Question: The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed in outlying regions. The company has annual sales of $350,500. Cost of goods sold average 48 percent of sales and the profit margin is 5.2 percent. The average accounts receivable balance is $44,700. On average, how long does it take The Hot Truck to collect payment for its services?
a) 7.84 days
b) 24.17 days
c) 46.55 days
d) 48.33 days