The Accounting statements of Horizon Electronics Corporation report net sales of $2,555,000 and accounts receivable of $158,000 and $142,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days? A. 21.50 B. 19.25 C. 22.75 D. 20.00

The Accounting statements of Horizon Electronics Corporation report net sales of $2,555,000 and accounts receivable of $158,000 and $142,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days? A. 21.50 B. 19.25 C. 22.75 D. 20.00

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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I need help with this general accounting question using standard accounting techniques.

The Accounting statements of Horizon Electronics Corporation report net sales of $2,555,000
and accounts receivable of $158,000 and $142,000 at the beginning and end of the year,
respectively. What is the average collection period for accounts receivable in days?
A. 21.50
B. 19.25
C. 22.75
D. 20.00

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