The annual sales of a company are $47,000 including sales tax at 17.5%. Half of the sales are on credit terms; half are cash sales. The receivables are $4,700. What is the trade receivables collection period (to the nearest day)? A 37 days B 43 days C 73 days D 86 days

Principles of Accounting Volume 1
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Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...
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The annual sales of a company are $47,000 including sales tax at 17.5%. Half of the sales are on credit terms;

half are cash sales. The receivables are $4,700.

What is the trade receivables collection period (to the nearest day)?

A 37 days

B 43 days

C 73 days

D 86 days

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