Shelly Company reported the following financial information: $\begin{array}{lrr}
&12/31/17&12/31/16\
\text { Accounts receivable } & \$ 340,000 & \$ 360,000 \
\text { Net credit sales } & 2,450,000 & 2,420,000
\end{array}$ Compute (a) the accounts receivable turnover and (b) the average collection period for 2017.

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The Answer of Shelly Company reported the following financial information: $\begin{array}{lrr}
&12/31/17&12/31/16\
\text { Accounts receivable } & \$ 340,000 & \$ 360,000 \
\text { Net credit sales } & 2,450,000 & 2,420,000
\end{array}$ Compute (a) the accounts receivable turnover and (b) the average collection period for 2017.

Shelly Company Reported the Following Financial Information Compute (A) the Accounts Receivable Turnover and (B) the Average