Summer Fashions Had a Balance in the Accounts Receivable Account

question 66

Multiple Choice

Summer Fashions had a balance in the Accounts Receivable account of $660,000 at the beginning of the year and a balance of $720,000 at the end of the year.Net credit sales during the year were $5,350,000.The average collection period of the receivables was

• A)45 days.
• B)47 days.
• C)49 days.
• D)93 days.

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Definitions:

Genetic Factors

Components of an individual's genetic makeup that influence various traits, including physical characteristics, behaviors, and susceptibility to certain diseases.

Childhood Memories

Recollections of past events that occurred during one's childhood, often influencing one's personality, behaviors, and perceptions in adulthood.

Respondent Behavior

A type of behavior that occurs as an automatic response to a specific stimulus, typically conditioned through association.

Operant Behavior

Behavior that is controlled by its consequences, including rewards and punishments, in the context of behaviorism.