Please need answer the general accounting question Ralston Company reports the following information for the 2011fiscal year:Sales on account $355,000, Accounts Receivable $90,000,Allowance for Doubtful Accounts $3,500.Determine the average number of days it takes Ralston tocollect its accounts receivable.A. 80.B. 85.C. 89.D. 98.

Step 1: Define Average Collection PeriodA period that tells about the competence of the business…

Answered: Ralston Company reports the following…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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General Accounting Question Solve
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Ralston Company reports the following information for the 2011 fiscal year: Sales on account $355,000, Accounts Receivable $90,000, Allowance for Doubtful Accounts $3,500. Determine the average number of days it takes Ralston to collect its accounts receivable. A. 80. B. 85. C. 89. D. 98.