Question
Granger Corporation had $180,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000.
Granger Corporation had $180,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000. The corporation's average collection period was closest to:
A. 20.3 days
B. 28.4 days
C. 36.5 days
D. 56.8 days
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Information Technology Control And Audit
Authors: Sandra Senft, Frederick Gallegos, Aleksandra Davis
4th Edition
1439893209, 978-1439893203
