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Excerpts from Sydner Corporation's Most Recent Balance Sheet Appear Below

Question 107

Multiple Choice

Excerpts from Sydner Corporation's most recent balance sheet appear below: Excerpts from Sydner Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The average collection period for Year 2 is closest to: A) 55.1 days B) 0.9 days C) 1.1 days D) 57.8 days Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The average collection period for Year 2 is closest to:


A) 55.1 days
B) 0.9 days
C) 1.1 days
D) 57.8 days

Correct Answer:

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