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The 2011 income statements of Leggett and Platt, Inc. reports net sales of $3,636.0 million. Average account receivable for 2011 is $527.9 million. The average

The 2011 income statements of Leggett and Platt, Inc. reports net sales of $3,636.0 million. Average account receivable for 2011 is $527.9 million. The average collection period in 2011 was:

a. 7 days

b. 51 days

c. 53 days

d. 50 days

e. 77 days

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