Question
The 2019 income statements of Lowell Inc. reports net sales of $2,000 million. The balance sheet reports accounts receivable, gross of $95 million at December
The 2019 income statements of Lowell Inc. reports net sales of $2,000 million. The balance sheet reports accounts receivable, gross of $95 million at December 31, 2019 and $100 million at December 31, 2018. The average collection period (nearest full day) in 2019 was:
| A. | 17 days | |
| B. | 18 days | |
| C. | 16 days | |
| D. | 20 days | |
| E. | None of the above |
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
2nd edition
9780077493677, 78025516, 77493672, 9780077826482, 978-0078025518
