A company had an accounts receivable balance of $425,000 at the beginning of the year and $500,000 at the end of the year. The total credit sales during the year were $3,600,000. What was the average collection period in days (round to the nearest number of days)? A. 43 days B. 47 days C. 51 days D. 53 days

A company had an accounts receivable balance of $425,000 at the beginning of the year and $500,000 at the end of the year. The total credit sales during the year were $3,600,000. What was the average collection period in days (round to the nearest number of days)? A. 43 days B. 47 days C. 51 days D. 53 days

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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