Average collection period of the receivables, Accounting Basics

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Average collection period of the receivables

Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of $410,000 at the end of the year. Net credit sales during the year amounted to $2,000,000. The average collection period of the receivables in terms of days was:

a. 30 days.

b. 365 days.

c. 146 days.

d. 73 days

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Accounting Basics: Average collection period of the receivables

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Accounting Basics: Average collection period of the receivables

Reference No:- TGS047950

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Average collection period of the receivables

Reference No:- TGS047950

Recent Questions Asked Accounting Basics

Q : Merchandise inventory turnover ratio

Q : What amount of income must be included

Q : Beginning-ending merchandise inventories problem

Q : Explain how supply has increased more rapidly than demand

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Q : Explain marginal-cost curve and average total cost curve

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