Question
Data from Keniston Corporation's most recent balance sheet and income statement appear below: This YearLast YearAccounts receivable$128,000$114,000Inventory$228,000$193,000Sales on account$813,000Cost of goods sold$597,000 The average collection
Data from Keniston Corporation's most recent balance sheet and income statement appear below:
This YearLast YearAccounts receivable$128,000$114,000Inventory$228,000$193,000Sales on account$813,000Cost of goods sold$597,000
The average collection period for this year is closest to:(Round your intermediate calculations to 2 decimal places.)
Garrison 16e Rechecks 2017-10-04
Multiple Choice
- 39.1 days
- 45.1 days
- 54.3 days
- 57.5 days
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
