The following data are taken from the financial statements of Colby Company. 2017 2016 Accounts receivable (net), end of year $ 550,000 $ 540,000 Net sales on account 4,300,000 4,000,000 Terms for all sales are 1/10, n/45 Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $520,000. (Round answers to 1 decimal place, e.g. 12.5.) 2017 2016 Accounts receivable turnover Enter turnover in times rounded to 1 decimal place. times Enter turnover in times rounded to 1 decimal place. times Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) 2017 2016 Average collection period Enter the collection period in days rounded to 1 decimal place. days Enter the collection period in days rounded to 1 decimal place. days