Accounts Receivable Turnover and Average Collection Period The Forrester Corporation disclosed the following financial information (in millions) in its recent annual report: Net sales Beginning accounts receivable (net) Ending accounts receivable (net) Year 1 Year 2 $33,548 $40,831 8,182 7,762 7,762 7,556 a. Calculate the accounts receivable turnover ratio for both years. b. Calculate the average collection period for both years. Notes: 1. Round all answers to one decimal place. 2. Use rounded answer from part a. to compute the average collection period.

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