Average collection period for 2022 At the beginning of 2022, BrightTech Inc. had accountsreceivable of $96,000. At the end of 2022, the company hadaccounts receivable of $80,000. During 2022, BrightTech Inc.had total sales of $1,200,000, all of which were credit sales.What was the company's average collection period for 2022?Answer Choices:a. 16.42 timesb. 18.20 timesc. 19.87 timesd. 26.76 dayse. 29.8 days

Step 1: Definition of Average Collection PeriodThe average collection period measures the average…

Answered: At the beginning of 2022, BrightTech…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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