Question
2. SB Company reported $540,000 in sales on account last year. The companys accounts receivable balance increased from $30,000 at the beginning of the year
2. SB Company reported $540,000 in sales on account last year. The companys accounts receivable balance increased from $30,000 at the beginning of the year to $54,000 at the end of the year. What was the company's average collection period ?
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Understanding Financial Statements
Authors: Lyn Fraser, Aileen Ormiston
11th edition
133874036, 978-0133874037
