Gilligan Retail Outlet provided the following financial information: Accounts Receivable balance as of 1/1/2017 $110,000 Accounts Receivable balance as of 12/31/2017 $120,000 Net Credit Sales for the year 2017 $839,500 Cost of Goods Sold for the year 2017 $486,910 Calculate the average Collection Period of receivables. 50.00 days O 7.30 days 344.83 days 01.06 days