Question
The Rye Corporation has provided the following information: Total sales were $1,240,000. Beginning net accounts receivable was $49,000. Ending net accounts receivable was $63,000. Sales
The Rye Corporation has provided the following information:
Total sales were $1,240,000.
Beginning net accounts receivable was $49,000.
Ending net accounts receivable was $63,000.
Sales returns and allowances totaled $108,000.
What was Ryes average collection period? (Use 365 days a year. Do not round intermediate calculations.)
18.06 days.
36.11 days.
18.54 days.
16.48 days.
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Auditing An International Approach
Authors: Wally J. Smieliauskas, Kathryn Bewley
7th edition
1259259870, 1259087468, 70968292, 978-1259087462
