Multiple Choice
Summer Fashions had a balance in the Accounts Receivable account of $660,000 at the beginning of the year and a balance of $720,000 at the end of the year.Net credit sales during the year were $5,350,000.The average collection period of the receivables was
A) 45 days.
B) 47 days.
C) 49 days.
D) 93 days.
Correct Answer:
Verified
Correct Answer:
Verified
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