The following information is available for Pearl Corp. for the past two years: 20x3 20x2 $ 490,000 $760,000 Accounts Receivable Net Cash Sales $3,000,000 $ 4,000,000 6.500.000 Net Credit Sales 5.000.000 Total Net Sales $8,000,000 $10,500,000 Question: Assuming a 365-day calendar year, what is the average collection period for accounts receivable in 20X3? Round each calculation to two decimal points. Answer: The following information is available for Pearl Corp. for the past two years: 20x3 20x2 Accounts Receivable $ 490,000 $760,000 Net Cash Sales $3,000,000 $ 4,000,000 Net Credit Sales 5.000.000 6.500.000 Total Net Sales $8,000,000 $10,500,000 Question: Assuming a 365-day calendar year, what is the average collection period for accounts receivable in 20X3? Round each calculation to two decimal points. Answer: 6.58 days 8.00 days 10.20 days 45.63 days 12.80 days 28.52 days Next page