Multiple Choice
Modern Products, Inc. had accounts receivable of $240,000 in 2016, and $300,000 in 2017. Net sales for 2017 was $3,000,000, and gross profit margin was $1,200,000. The average collection period for 2017 was:
A) 29.2 days.
B) 36.5 days.
C) 32.9 days.
D) 32.4 days.
Correct Answer:
Verified
Correct Answer:
Verified
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