Solved

If a Firm Has Total Accounts Receivable of $6,000,000 and Its

Question 80

Multiple Choice

If a firm has total accounts receivable of $6,000,000 and its average daily credit sales are $45,000 what is its collection period?


A) 120 days
B) 133 days
C) 45 days
D) 156 days

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q8: It is possible for companies to operate

Q15: A goal of cash management is to

Q24: The investment of excess short-term funds is

Q38: Electronic funds transfer will likely increase the

Q75: If you bought a T-bill at $99.44

Q76:

Q77: AC's average daily sales are _.
A) $55,000
B)

Q78:

Q79: AC's average AR is _.
A) $3,238,999
B) $1,486,310
C)

Q85: Electronic Data Interchange may be used to

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents