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The following data are taken from the financial statements of Colby Company 2020 2019 Accounts receivable (net), end of year Net sales on account Terms

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The following data are taken from the financial statements of Colby Company 2020 2019 Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 $530,000 $480,000 4,090,500 3,085,500 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $455,000. (Round answers to 1 decimal place,e.g.1.6.) 2020 2019 Accounts receivable turnover times times Compute for each year the average collection period. At the end of 2018, accounts receivable was $455,000. (Use 365 days for calculation. Round answers to 1 decimal place,e.g. 1.6.) 2020 2019 Average collection period days days

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