Multiple Choice
The financial statements of Gentry Manufacturing Company report net sales of $400,000 and accounts receivable of $80,000 and $40,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?
A) 40 times
B) 80 times
C) 54.7 times
D) 50 times
Correct Answer:
Verified
Correct Answer:
Verified
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