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ABC Co Has an Average Collection Period of 60 Days

question 52

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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?


Definitions:

Competitive Intelligence

The gathering and analysis of information about competitors for strategic purposes.

Environmental Scanning

The process of systematically collecting information about external influences and trends to identify opportunities and threats for strategic planning.

Environmental Intelligence

The gathering and analysis of data regarding the environment, used to guide business or policy decisions in a sustainable direction.

Competitive Scanning

The process of monitoring and analyzing the competitive environment to identify opportunities and threats.

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