Question
Tower, Inc. had net sales of $4,725,000 during 2019. On January 1, 2019, Towers accounts receivable were $960,000. On December 31, 2019, Towers accounts receivable
Tower, Inc. had net sales of $4,725,000 during 2019. On January 1, 2019, Towers accounts receivable were $960,000. On December 31, 2019, Towers accounts receivable were $1,200,000. What was Towers average collection period for 2019?
Select one:
A. 96.2 days
B. 13.8 days
C. 83.4 days
D. 43.3 days
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
11th Edition
0131867121, 978-0131867123
