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Marie's Clothing Store Had an Accounts Receivable Balance of $420,000

Question 23

Multiple Choice

Marie's Clothing Store had an accounts receivable balance of $420,000 at the beginning of the year and a year-end balance of $510,000.Net credit sales for the year totaled $2,100,000.The average collection period of the receivables was:


A) 41 days.
B) 52 days.
C) 81 days.
D) 91 days.

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