Multiple Choice
Grapp Company had $130,000 in sales on account last year.The beginning accounts receivable balance was $18,000,and the ending accounts receivable balance was $16,000.The company's average collection period (age of receivables) was closest to which of the following?
A) 44.92 days.
B) 47.73 days.
C) 50.54 days.
D) 95.46 days.
Correct Answer:
Verified
Correct Answer:
Verified
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