A firm has accounts receivable of $150,000. During the year, total sal
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
ANSWER
C
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