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VanPoole Corporation disclosed the following financial information ( in millions ) in its recent annual report: Year 1 Year 2 Net sales $ 2 0

VanPoole Corporation disclosed the following financial information (in millions) in its recent annual report:
Year 1 Year 2
Net sales $208,870 $227,078
Beginning accounts receivable (net)24,31823,968
Ending accounts receivable (net)23,96823,797
a. Calculate the accounts receivable turnover ratio for both years.
b. Calculate the average collection period for both years.
Notes:
1. Round all answers to one decimal place.
2. Use rounded answer from part a. to compute the average collection period.
Year 1 Year 2
a. Accounts receivable turnover Answer 1
Answer 2
b. Average collection period (days) Answer 3
Answer 4

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