Multiple Choice
Afrikana Inc. had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of $880,000 at the end of the year. Net credit sales during the year were $5,920,000. The average collection period of the receivables was
A) 45 days.
B) 52 days.
C) 54 days.
D) 104 days.
Correct Answer:
Verified
Correct Answer:
Verified
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