Multiple Choice
Grapp Company had $130,000 in sales on account last year.The beginning accounts receivablebalance 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? Do not round intermediate calculations.
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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