Question
The financial statements of theMarigold Corp.reports net sales of $708000and accounts receivable of $90000and $42000at the beginning of the year and end of year, respectively.
The financial statements of theMarigold Corp.reports net sales of $708000and accounts receivable of $90000and $42000at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days?(Use 365 days for calculation.)
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
9th edition
1-119-49356-3, 1119493633, 1119493560, 978-1119493631
