Your Average Customer Is Located 3 Mailing Days Away from Your

question 22

Multiple Choice

Your average customer is located 3 mailing days away from your firm. In addition, it takes 1 day for your funds to be available for use once you have made your bank deposit. You have determined that your total collection time is 8 days. How long on average is it taking your firm to process the payments from your customers?

• A) 2 days
• B) 3 days
• C) 4 days
• D) 7 days
• E) 8 days

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