4 POINT Belan Corporation has an accounts receivableturnover of 8 and annual credit sales of$1,200,000.What is the average collection period?A) 40.56 daysB) 50.25 daysC) 45.63 daysD) 38.75 days

Explanation of Accounts Receivable Turnover:Accounts receivable turnover measures how efficiently a…

Answered: Belan Corporation has an accounts…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

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Belan Corporation has an accounts receivable turnover of 8 and annual credit sales of $1,200,000. What is the average collection period? A) 40.56 days B) 50.25 days C) 45.63 days D) 38.75 days