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The following data are taken from the financial statements of Rainsberger Company. 2018 2017 Accounts receivable (net), end of year $555,000 $550,000 Net sales on

The following data are taken from the financial statements of Rainsberger Company. 2018 2017 Accounts receivable (net), end of year $555,000 $550,000 Net sales on account 4,030,000 3,070,000 Terms for all sales are 1/10, n/60. Compute for each year the accounts receivable turnover. At the end of 2016, accounts receivable (net) was $455,000. (Round answers to 1 decimal place, e.g. 1.6.) 2018 2017 Accounts receivable turnover times times LINK TO TEXT Compute for each year the average collection period. At the end of 2016, accounts receivable (net) was $455,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) 2018 2017 Average collection period days days

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