Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning of the year and a balance of $510000 at the end of the year. Net credit sales during the year amounted to $5050000. The average collection period of the receivables in terms of days was O 36.9 days. O 36.1 days. O 365 days. O 36.5 days.
Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning of the year and a balance of $510000 at the end of the year. Net credit sales during the year amounted to $5050000. The average collection period of the receivables in terms of days was O 36.9 days. O 36.1 days. O 365 days. O 36.5 days.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...
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