Sheffield Discount Retail Company had a balance in the Accounts Receivable account of $690000 at the beginning of the year and a balance of $770000 at the end of the year. Net credit sales during the year amounted to $5840000. The average collection period of the accounts receivable in terms of days was O 45.6 days. O 91.3 days. O 32.8 days. 48.0 days.
Sheffield Discount Retail Company had a balance in the Accounts Receivable account of $690000 at the beginning of the year and a balance of $770000 at the end of the year. Net credit sales during the year amounted to $5840000. The average collection period of the accounts receivable in terms of days was O 45.6 days. O 91.3 days. O 32.8 days. 48.0 days.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Sheffield Discount Retail Company had a balance in the Accounts Receivable account of $690000 at the beginning of the year and a
balance of $770000 at the end of the year. Net credit sales during the year amounted to $5840000. The average collection period of
the accounts receivable in terms of days was
45.6 days.
91.3 days.
32.8 days.
48.0 days.
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