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Suppose Lacey Corporation has total credit sales of $777,000. If the balance sheet reports accounts receivable of $51,452, what is Lackey's average collection period (assume

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Suppose Lacey Corporation has total credit sales of $777,000. If the balance sheet reports accounts receivable of $51,452, what is Lackey's average collection period (assume a 365-day year.)? The average collection period is: (Select the best choice below.) A. 25 days B. 21 days C. 28 days D. 24 days E. 29 days

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