O Eddy Corporation had net credit sales during the year of ($ 800,000) and cost of goods

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O Eddy Corporation had net credit sales during the year of \(\$ 800,000\) and cost of goods sold of \(\$ 500,000\). The balance in receivables at the beginning of the year was \(\$ 100,000\) and at the end of the year was \(\$ 150,000\). What was the accounts receivable turnover and average collection period in days?

(a) 4. 0 and 91. 3 days.

(c) 6. 4 and 57 days.

(b) 5. 3 and 68. 9 days.

(d) 8. 0 and 45. 6 days.

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Financial Accounting Tools For Business Decision Making

ISBN: 9781119316022

8th Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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