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If a firm starts the year with receivables of $80,000 and produces sales for the year of $300,000, what is its average collection period? Multiple

If a firm starts the year with receivables of $80,000 and produces sales for the year of $300,000, what is its average collection period?

Multiple Choice

3.75 days.
97.3 days.
52 days.
77.9 days

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