-The Person Responsible for Drafting the Formal Resolution That Became

question 48

Multiple Choice

-The person responsible for drafting the formal resolution that became the Declaration of Independence was .

• A) Richard Henry Lee
• B) Benjamin Franklin
• C) John Adams
• D) Thomas Jefferson

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Definitions:

Average Collection Period

The average time it takes for a company to receive payments owed by its customers.

Net Sales

Revenue from sales after deducting returns, allowances for damaged goods, and discounts.

Accounts Receivable

Amounts owed to a business by its customers for goods or services delivered on credit.

Allowance Method

An accounting technique used to estimate uncollectible accounts receivable and record bad debts expenses.