Grasse Company had $160,000 in sales on account last year. The beginnings accounts receivable balance was $10,000 and the ending accounts receivable balance was $12,000. What is the company's average collection period? a. 25.09 days b. 22.81 days c. 50.19 days d. 27.38 days

Grasse Company had $160,000 in sales on account last year. The beginnings accounts receivable balance was $10,000 and the ending accounts receivable balance was $12,000. What is the company's average collection period? a. 25.09 days b. 22.81 days c. 50.19 days d. 27.38 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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What is the company's average collection period on these general accounting question?

Grasse Company had $160,000 in sales on account last year. The
beginnings accounts receivable balance was $10,000 and the ending
accounts receivable balance was $12,000. What is the company's
average collection period?
a. 25.09 days
b. 22.81 days
c. 50.19 days
d. 27.38 days

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