= Homework: Chapter 3 Homework Question 7, P3-16 (simila... Part 1 of 3 HW Score: 41.93%, 5.03 of 12 points Points: 0 of 1 Save Accounts receivable management An evaluation of the books of Blair Supply B. gives the end-of-year accounts receivable balance, which is believed to consist of amounts originating in the months indicated. The company had annual sales of $2.40 million. The firm extends 30-day credit terms. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the validity of your conclusion in part a? Explain. a. The average collection period is days. (Round to two decimal places.) Data Table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Month of Amounts receivable origin July $3,870 August 2,045 September 34,020 October 15,085 November 51,985 December 192,955 Year-end accounts receivable $299,960 Print Done Help Me Solve This View an Example Get More Help Clear All Check