Granger Corporation had $194,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000. The corporation's average collection period was closest to: a. 18.8 days b. 26.3 days c. 33.9 days d. 13.9 days

Granger Corporation had $194,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000. The corporation's average collection period was closest to: a. 18.8 days b. 26.3 days c. 33.9 days d. 13.9 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

Financial accounting questions

Granger Corporation had $194,000 in sales on account last year. The
beginning accounts receivable balance was $10,000 and the ending
accounts receivable balance was $18,000. The corporation's average
collection period was closest to:
a. 18.8 days
b. 26.3 days
c. 33.9 days
d. 13.9 days

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