A firm has accounts receivable of $150,000.During the year,total sales are $500,000,of which $300,000 are cash sales.What is the average collection period?
A) 109.5 days
B) 182.5 days
C) 273.8 days
D) 486.7 days
E) None of the above

Question

Quizplus · Accepted Answer

Average collection period = 11ea7fdb_fc2e_eb71_a768_3f603f4f4c5c_TB2902_11 Average collection period = 11ea7fdb_fc2e_eb72_a768_43fe46112e1a_TB2902_11 = 273.8 days

A Firm Has Accounts Receivable of $150,000