Question
Granger Corporation had $204,000 in sales on account last year. The beginning accounts receivable balance was $19,000 and the ending accounts receivable balance was $26,000.
Granger Corporation had $204,000 in sales on account last year. The beginning accounts receivable balance was $19,000 and the ending accounts receivable balance was $26,000. The corporation's average collection period was closest to:(Round your intermediate calculations to 2 decimal places.)
Multiple Choice
- 34.0 days
- 40.2 days
- 46.5 days
- 9.1 days
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Horngrens Accounting The Managerial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
12th edition
013448682X, 978-0134486826
