In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account receivable (net) balance of 38,000$ and an ending account receivable (net) balance of 36,000$, account receivable turnover (average collection period) in days is

In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account receivable (net) balance of 38,000$ and an ending account receivable (net) balance of 36,000$, account receivable turnover (average collection period) in days is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account receivable
(net) balance of 38,000$ and an ending account receivable (net) balance of 36,000$, account receivable
turnover (average collection period) in days is
O a.
14.4
b.
16.4
O C.
12
O d. 13

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