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Red Company has the following information: Net credit sales-$400,000 Net income $100,000 Average total assets $80,000 Average accounts receivable - $20,000 What is Red's average collection period (rounded to the nearest whole day)? O 73 days O 18 days O 9 days 5 days Which of the following is recorded upon receipt of a payment on April 7, 2018, by a customer who pays a $900 invoice dated March 3, 2018, with terms 2/10, n/60? O Debit Sales Discounts $18. O Credit Purchase Discounts $18 O Credit Accounts Receivable $882 Oswego Clay Pipe Company provides services of $46,000 to Southeast water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on June 10, assuming the customer made the correct payment on that date? A. Cash 45,540 460 Accounts Receivable B. Cash 46,00 45,540 Accounts Receivable Interest Revenue 460 46,000 46,000 C. Cash 46,00 Accounts Receivable D. Cash 46,46 Accounts Receivable Interest Revenue 460 0 Option A O Option B O Option C O Option D On November 10 of the current year, Flores Mills provides services to a customer for $8,000 with credit terms 2/10, n/30. The customer made the correct payment on December 5. How would Flores record the collection of cash on December 5? A. Cash 7,84 Accounts Receivable 7,840 B. Cash 7,84 Sales Discounts Accounts Receivable 8,000 C. Cash 7840 160 Sales Revenue Accounts Receivable 8,000 D. Cash 8,00 Accounts Receivable 8,000