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Guttery Corporation Has Provided the Following Financial Data from Its

Question 62

Multiple Choice

Guttery Corporation has provided the following financial data from its balance sheet: Guttery Corporation has provided the following financial data from its balance sheet: Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000.The company's average collection period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.) A) 1.1 days B) 28.2 days C) 1.0 days D) 27.9 days Sales on account in Year 2 totaled $1,450,000 and cost of goods sold totaled $900,000.The company's average collection period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) 1.1 days
B) 28.2 days
C) 1.0 days
D) 27.9 days

Correct Answer:

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