Multiple Choice
Peterboro Supply has a current accounts receivable balance of $391,648.Credit sales for the year just ended were $5,338,411.How long did it take on average for credit customers to pay off their accounts during the past year? Assume a 365-day year.
A) 24.78 days
B) 26.78 days
C) 29.09 days
D) 31.15 days
E) 33.33 days
Correct Answer:
Verified
Correct Answer:
Verified
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