Aubrey Company that you work for had credit sales of P3,500,000 last year and on average had P33,000 in its accounts receivable during the year. What is its average collection period? * None of the choices 3.44 days 3.5 days O 3 days

Aubrey Company that you work for had credit sales of P3,500,000 last year and on average had P33,000 in its accounts receivable during the year. What is its average collection period? * None of the choices 3.44 days 3.5 days O 3 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Aubrey Company that you
work for had credit sales of
P3,500,000 last year and on
average had P33,000 in its
accounts receivable during
the year. What is its average
collection period? *
None of the choices
3.44 days
3.5 days
O 3 days

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