A Local Food Wholesaler Has an Average Collection Period of 15

Multiple Choice

A local food wholesaler has an average collection period of 15 days and considers each month to have a total of 30 days. On a typical day, the wholesaler sells $24,500 of goods on credit and another $6,800 of goods for cash. What is the expected balance in accounts receivable?

A) $360,700
B) $367,500
C) $374,300
D) $735,000
E) $741,800