Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year and a year-end balance of $550,000. Net credit sales for the year totaled $3,400,000. The average collection period of the receivables was: A. 52 days. B. 8 days. C. 59 days. D. 44 days.

Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year and a year-end balance of $550,000. Net credit sales for the year totaled $3,400,000. The average collection period of the receivables was: A. 52 days. B. 8 days. C. 59 days. D. 44 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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Hi expert please give me answer general accounting

Marie's Clothing Store had an accounts receivable balance of
$410,000 at the beginning of the year and a year-end balance of
$550,000. Net credit sales for the year totaled $3,400,000. The
average collection period of the receivables was:
A. 52 days.
B. 8 days.
C. 59 days.
D. 44 days.

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