ABC CoHas an Average Collection Period of 60 Days

question 98

Multiple Choice

ABC Co.has an average collection period of 60 days.Total credit sales for the year were $3,285,000.What is the balance in accounts receivable at year-end? (Use 365 days in a year.)

• A) $54,750
• B) $109,500
• C) $540,000
• D) $547,500

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Definitions:

Echolalia

The automatic and involuntary repetition of words or phrases just spoken by others, often a symptom of autism spectrum disorder or other conditions.

Broca's Area

A region in the frontal lobe of the dominant hemisphere (usually the left) of the brain with functions linked to speech production.

Aphasia

A disruption in the ability to understand or produce language.

Overextensions

A language development phenomenon where children apply a word in a broader context than is appropriate, showing their understanding of language categories.