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P2. Discount Retail Company had a balance in the Accounts Receivable account of $760,000 at the end of the last year, 2022, and a
P2. Discount Retail Company had a balance in the Accounts Receivable account of $760,000 at the end of the last year, 2022, and a balance of $840,000 at the end of this year, 2023. Net credit sales during 2023 amounted to $7,200,000. The average collection period of the accounts receivable in terms of days was (2pt) a. What is Accounts Receivable Turnover in 2023? ) times b. what is the average collection period in 2023? ) days days
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