Westfield Electronics had a balance in the Accounts Receivable account of $750,000 at the beginning of the year and a balance of $810,000 at the end of the year. Net credit sales during the year amounted to $4,680,000. What is the average collection period of the receivables in terms of days? A) 45.3 days B) 52.9 days C) 60.83 days D) 78.4 days

Westfield Electronics had a balance in the Accounts Receivable account of $750,000 at the beginning of the year and a balance of $810,000 at the end of the year. Net credit sales during the year amounted to $4,680,000. What is the average collection period of the receivables in terms of days? A) 45.3 days B) 52.9 days C) 60.83 days D) 78.4 days

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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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