Question
A firm has sales of $2.5 million, and 5 percent of the sales are for cash. The year-end accounts receivable balance is $190,000. What is
| A firm has sales of $2.5 million, and 5 percent of the sales are for cash. The year-end accounts receivable balance is $190,000. |
| What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
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Analysis Of Financial Data
Authors: Gary Koop
1st Edition
0470013214, 978-0470013212
