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Oliveras Company had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in accounts receivable at the
Oliveras Company had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in accounts receivable at the beginning of the year was $100,000, and the end of the year it was $150,000. What were the accounts receivable turnover and the average collection period in days?
a. | 7.3 and 64 days. |
b. | 4.0 and 91.3 days. |
c. | 6.4 and 57 days. |
d. | 8.0 and 45.6 days. |
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