average number of days it takes Rhodes to collect its accounts receivable.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 17

Transcribed Image Text:Rhodes Company reports the following information for the Year 1 fiscal year:
Sales on account
$650,000
Accounts receivable
$70,000
$4,000
Allowance for doubtful accounts
Determine the average number of days it takes Rhodes to collect its accounts receivable. (Round intermediate calculations to 2 decimal
places.)
Multiple Choice
14
20
37
39
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