Question
1. Zebra Company reports the following figures for the years ending December 31, 2019 and 2018: Marie's Clothing Store had an accounts receivable balance of
1. Zebra Company reports the following figures for the years ending December 31, 2019 and 2018: Marie's Clothing Store had an accounts receivable balance of $ 400,000 at the beginning of the year and a yearminusend balance of $ 590,000. Net credit sales for the year totaled $ 3,800,000. The average collection period of the receivables was A. 48DAYS B. 57DAYS C. 38DAYS D. 9DAYS Carey's Department Store had net sales of $20 million and cost of goods sold of $ 10.00 million for the year. The beginning inventory for the year was $ 5.00 million. The ending inventory for the year was $ 9.00 million. What was the days' inventory outstanding? A. 255DAYS B. 37DAYS C. 41DAYS D. 73DAYS Marie's Clothing Store had an accounts receivable balance of $400,000 at the beginning of the year and a yearminusend balance of $550,000. Net credit sales for the year totaled $3,400,000. The average collection period of the receivables was: A. 51DAYS B. 59DAYS C. 43DAYS D. 8DAYS
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