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Granger Corporation had $192,000 in sales on account last year. The beginning accounts receivable balance was $24,000 and the ending accounts receivable balance was $33,000.
Granger Corporation had $192,000 in sales on account last year. The beginning accounts receivable balance was $24,000 and the ending accounts receivable balance was $33,000. The corporation's average collection period was closest to:
(Assume 365 days a year. Round your intermediate answers to 2 decimal places.) |
54.2 days
62.7 days
6.7 days
45.6 days
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