Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If the collection period of a company is 60 days, and the average receivables are $86,000 what is the total amount of the credit sales?

image text in transcribed

If the collection period of a company is 60 days, and the average receivables are $86,000 what is the total amount of the credit sales? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.) O A. $14,137 O B. $86,000 OC. $1,433 OD. $523,165

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions