Wildhorse Co. had a balance in the Accounts Receivable account of $768,000 at the beginning of the year and a balance of $865,000 at the end of the year. Net credit sales during the year amounted to $653,2000. The average collection period of the accounts receivable in terms of days was: A. 91.3 days. B. 35 days. C. 45.6 days. D. 48 days.

Wildhorse Co. had a balance in the Accounts Receivable account of $768,000 at the beginning of the year and a balance of $865,000 at the end of the year. Net credit sales during the year amounted to $653,2000. The average collection period of the accounts receivable in terms of days was: A. 91.3 days. B. 35 days. C. 45.6 days. D. 48 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 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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