Question
Marie's Clothing Store had an accounts receivable balance of $470,000 at the beginning of the year and a year end balance of $570,000 . Net
Marie's Clothing Store had an accounts receivable balance of $470,000 at the beginning of the year and a year end balance of $570,000. Net credit sales for the year totaled $3,800,000. The average collection period of the receivableswas: (Round any intermediary calculations to two decimal places and your final answer to the nearestday.)
A. 50 DAYS
B. 55 DAYS
C. 5 DAYS
D. 45 DAYS
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Intermediate Accounting
Authors: Kin Lo, George Fisher
3rd Edition Vol. 1
133865940, 133865943, 978-7300071374
