Multiple Choice
Based on the following information, determine the average receivables (rounded to thousands of dollars) that were outstanding: net sales = $575,000; sale-to-cash conversion period = 57.1 days; purchase-to-payment conversion period = 76.8 days; and cost of goods sold = $380,000.
A) $90,000
B) $180,000
C) $121,000
D) $45,000
Correct Answer:
Verified
Correct Answer:
Verified
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