The Brenmar Sales Company had a gross profit margin(gross profits sales) of 28 percent and sales of $9.8 million last year.

The Brenmar Sales Company had a gross profit margin​ (gross profits ÷​sales) of 28 percent and sales of $9.8 million last year.73 percent of the​ firm’s sales are on​ credit, and the remainder are cash sales. ​ Brenmar’s current assets equal $1.4 ​million, its current liabilities equal $ 0$302,300​, and it has $104,100 in cash plus marketable securities.

a. If​ Brenmar’s accounts receivable equal $562,900​, what is its average collection​ period?

b. If Brenmar reduces its average collection period to 20 ​days, what will be its new level of accounts​ receivable?

c.  ​Brenmar’s inventory turnover ratio is 9.5 times. What is the level of​ Brenmar’s inventories?

a.  If​ Brenmar’s accounts receivable equal $ $562,900​, what is its average collection​ period?

The​ company’s average collection period will be _________ days.  ​(Round to two decimal​ places.)

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