The Rye Corporation Has Provided the Following Information: • Total

Multiple Choice

The Rye Corporation has provided the following information: • Total sales were $1,200,000.
• Beginning net accounts receivable was $45,000.
• Ending net accounts receivable was $65,000.
• Sales returns and allowances totaled $100,000.
-
What was Rye's average collection period? (Use 365 days a year)

A) 16.73 days.
B) 19.75 days.
C) 36.50 days.
D) 18.25 days.