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Jones and Co., reported average receivables of $550,000 in its most recent annual report. If total credit sales were $3,000,000 what was Jones and Co.'s
Jones and Co., reported average receivables of $550,000 in its most recent annual report. If total credit sales were $3,000,000 what was Jones and Co.'s average collection period? (Use 365 days in a year.)
Multiple Choice
21 days
67 days
29 days
82 days
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