Multiple Choice
Your average customer is located 3 mailing days away from your firm. In addition, it takes 1 day for your funds to be available for use once you have made your bank deposit. You have determined that your total collection time is 8 days. How long on average is it taking your firm to process the payments from your customers?
A) 2 days
B) 3 days
C) 4 days
D) 7 days
E) 8 days
Correct Answer:
Verified
Correct Answer:
Verified
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