Brighton Supplies had an Accounts Receivable balance of $500,000 at the beginning of the year and $460,000 at the end of the year. The company's net credit sales for the year were $3,600,000. What is the average collection period in days? a) 45 days b) 48 days c) 50 days d) 365 days

Brighton Supplies had an Accounts Receivable balance of $500,000 at the beginning of the year and $460,000 at the end of the year. The company's net credit sales for the year were $3,600,000. What is the average collection period in days? a) 45 days b) 48 days c) 50 days d) 365 days

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Please help me solve this general accounting problem with the correct financial process.

Brighton Supplies had an Accounts Receivable balance of $500,000
at the beginning of the year and $460,000 at the end of the year.
The company's net credit sales for the year were $3,600,000.
What is the average collection period in days?
a) 45 days
b) 48 days
c) 50 days
d) 365 days

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