Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning of the year and a balance of $510000 at the end of the year. Net credit sales during the year amounted to $5050000. The average collection period of the receivables in terms of days was O 36.9 days. O 36.1 days. O 365 days. O 36.5 days.

Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning of the year and a balance of $510000 at the end of the year. Net credit sales during the year amounted to $5050000. The average collection period of the receivables in terms of days was O 36.9 days. O 36.1 days. O 365 days. O 36.5 days.

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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