Marie's Clothing Store Had an Accounts Receivable Balance of $440,000

Multiple Choice

Marie's Clothing Store had an accounts receivable balance of $440,000 at the beginning of the year and a year-end balance of $600,000. Net credit sales for the year totaled $3,600,000. The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day.)

A) 45 days.
B) 61 days.
C) 53 days.
D) 8 days.