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A company had an accounts receivable balance of $390,000 at the beginning of the year and $450,000 at the end of the year. The total credit sales during the were $3,200,000. year What was the average collection period in days? (Round to the nearest whole number)

A company had an accounts receivable balance of $390,000 at the beginning of the year and $450,000 at the end of the year. The total credit sales during the were $3,200,000. year What was the average collection period in days? (Round to the nearest whole number)

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...
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A company had an accounts receivable balance of $390,000 at the beginning of the year and $450,000 at the end of the year. The total credit sales during the were $3,200,000. year What was the average collection period in days? (Round to the nearest whole number)
Transcribed Image Text:A company had an accounts receivable balance of $390,000 at the beginning of the year and $450,000 at the end of the year. The total credit sales during the were $3,200,000. year What was the average collection period in days? (Round to the nearest whole number)
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