Question
You are consulting for ACN Corporation. Using the following information and a 365-day year find the Average Collection Period for the company. Ending balance in
You are consulting for ACN Corporation. Using the following information and a 365-day year find the Average Collection Period for the company.
Ending balance in Inventory $200,000
Annual Sales $1,300,000
Annual COGS $300,000
Ending Balance in A/R $250,000
Ending Balance in A/P $150,000
a. 57 days
b. 71 days
c. 85 days
d. 80 days
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College Accounting, Chapters 1-27
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285055411, 9781285055411
