Jones and Co.,reported average receivables of $550,000 in its most recent annual report.If total credit sales were $3,000,000 what was Jones and Co.'s average collection period? (Use 365 days in a year.)
A) 67 days
B) 29 days
C) 82 days
D) 21 days

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The Answer of Jones and Co.,reported average receivables of $550,000 in its most recent annual report.If total credit sales were $3,000,000 what was Jones and Co.'s average collection period? (Use 365 days in a year.)
A) 67 days
B) 29 days
C) 82 days
D) 21 days