Question
Rawe Corporations accounts receivable at the end of Year 2 was $331,000 and its accounts receivable at the end of Year 1 was $283,000. Sales,
Rawe Corporations accounts receivable at the end of Year 2 was $331,000 and its accounts receivable at the end of Year 1 was $283,000. Sales, all on account, amounted to $1,359,000 in Year 2. The companys average collection period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
76.0 days
82.4 days
88.9 days
4.4 days
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The Essential Handbook Of Internal Auditing
Authors: K. H. Spencer Pickett
1st Edition
0470013168, 978-0470013168
