4 POINT Paul Industries had annual sales of $120 million, whichoccurred evenly throughout the 365 days of the year.Its accounts receivable balance averaged $6.6 million.How long, on average, does it take the firm to collecton its sales? (Round your answer to nearest number ifneeded)a) 14 daysb) 18 daysc) 16 daysd) 20 days

Explanation of Accounts Receivable:Accounts receivable represents the outstanding amounts owed to a…

Answered: Paul Industries had annual sales of…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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Thus Answer? ? General Accounting
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