At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance...

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At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Debit Credit Accounts payable $343,000 Accounts receivable $686,000 Cash 39,200 Cost of goods sold 1,715,000 Interest receivable 1,100 Interest revenue 2,200 Merchandise inventory 318,500 Notes receivable, due April 10, 2025 44,100 Prepaid insurance 7,840 Sales 3,596,600 Sales returns and allowances 98,000 Short-term investments 49,000 Unearned revenue 24,500 (a) (b) (c) Calculate the receivables turnover and collection period. (Remember that this is the end of the first year of business.) (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Receivables turnover Collection period times days At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Debit Credit Accounts payable $343,000 Accounts receivable $686,000 Cash 39,200 Cost of goods sold 1,715,000 Interest receivable 1,100 Interest revenue 2,200 Merchandise inventory 318,500 Notes receivable, due April 10, 2025 44,100 Prepaid insurance 7,840 Sales 3,596,600 Sales returns and allowances 98,000 Short-term investments 49,000 Unearned revenue 24,500 (a) (b) (c) Calculate the receivables turnover and collection period. (Remember that this is the end of the first year of business.) (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.) Receivables turnover Collection period times days