Question
If 34 percent of customers pay of day 10 and the remainder day in an average of 28 days, what is the average collection period?
If 34 percent of customers pay of day 10 and the remainder day in an average of 28 days, what is the average collection period?
A. 19.72 days
B. 20.08 days
C. 21.88 days
D. 18.47 days
E. 22.09 days
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Practical Financial Management
Authors: William R. Lasher
8th edition
1305637542, 978-1305887237, 1305887239, 978-1305637542
