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Using the following data for Stevenson Industries, compute the average collection period. Net credit sales $ 4,866,000 Accounts receivable 12/31/16 370,000 Accounts Receivable 12/31/15 430,000

Using the following data for Stevenson Industries, compute the average collection period.

Net credit sales $ 4,866,000

Accounts receivable 12/31/16 370,000

Accounts Receivable 12/31/15 430,000

Net Income 120,000

a. 32 days

b. 28 days

c. 45 days

d. 30 days

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