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The Lennox Co. accounts show the following: Net sales $3,000,000 Net accounts receivable (1/1) $280,000 Net income 140,000 Net accounts receivable (12/31) 520,000 The average
The Lennox Co. accounts show the following: Net sales $3,000,000 Net accounts receivable (1/1) $280,000 Net income 140,000 Net accounts receivable (12/31) 520,000 The average collection period (to the nearest whole day) is
34 days.
63 days.
150 days.
49 days
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