The financial statements of the Pina Colada Co report net sales of $408000 and accounts receivable of $60000 and $31200 at the begin of the year and the end of the year, respectively What is the average collection period for accou Oceivablo in davc2 /L ce 265dave forcalculation
The financial statements of the Pina Colada Co report net sales of $408000 and accounts receivable of $60000 and $31200 at the begin of the year and the end of the year, respectively What is the average collection period for accou Oceivablo in davc2 /L ce 265dave forcalculation
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The financial statements of the Pina Colada Corp.
report net sales of $408000 and accounts
receivable of $60000 and $31200 at the beginning
of the year and the end of the year, respectively.
What is the average collection period for accounts
receivable in days? (Use 365 days for calculation.)
O 30.6
O 40.8
O 50.9
O 81.3
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