13 of 15 < > Presented here is basic financial information (in millions) from the annual reports of Carla Vista and Kingbird. Carla Vista Kingbird Sales $21,600 $11,500 Allowance for doubtful accounts, Jan. 1 79.0 115 Allowance for doubtful accounts, Dec. 31 81.0 113 Accounts receivable balance (gross). Jan. 1 Accounts receivable balance (gross). Dec. 31 2,600.0 1,700 3,400.0 1,400 2.5/5 !!! Calculate the accounts receivable turnover and average collection period for both companies. (Round answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.) Carla Vista Kingbird Accounts receivable turnover 8.47 times Average collection period 48.0 days 7.9 times 46.2 days