At the beginning of 2023, Bright Wave Technologies had accounts receivable of $90,000. At the end of 2023, the company had accounts receivable of $75,000. During 2023, Bright Wave Technologies had total sales of $1,250,000, all of which were credit sales. What was this company's average collection period for 2023?

At the beginning of 2023, Bright Wave Technologies had accounts receivable of $90,000. At the end of 2023, the company had accounts receivable of $75,000. During 2023, Bright Wave Technologies had total sales of $1,250,000, all of which were credit sales. What was this company's average collection period for 2023?

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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