Multiple Choice
St.John's Inc.reported accounts receivable on January 1, 2013, of $500,000 and on December 31, 2013, of $550,000.Sales for the year were $4,000,000.What is their average collection period of accounts receivable for the year?
A) 42 days
B) 45 days
C) 48 days
D) 50 days
Correct Answer:
Verified
Correct Answer:
Verified
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