Ch 3 Assignment i\ Help\ Save & Exit\ Submit\ 4\ Problem 3-18 (Algo) Average collection period [LO3-2]\ 2.5\ A firm has sales of

$3.1

million, and 10 percent of the sales are for cash. The year-end accounts receivable balance is

$170,000

.\ What is the average collection period?\ Note: Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.\ \\\\table[[Average collection period

,

days]]

Problem 3-18 (Algo) Average collection period [LO3-2] A firm has sales of $3.1 million, and 10 percent of the sales are for cash. The year-end accounts receivale is $170,000. What is the average collection period? Note: Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places