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During 2017,Columbia Inc

Question 47

Multiple Choice

During 2017,Columbia Inc.had beginning accounts receivable of $680,000 and ending accounts receivable of $760,000.Its net sales of $4,500,000 are composed of 20% cash sales and 80% credit sales.Based on this information,what is Columbia's average collection period?


A) 58.4 days
B) 292.0 days
C) 73.0 days
D) 5.0 days
E) None of the answer choices is correct.

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