Afrikana Inc

question 5

Multiple Choice

Afrikana Inc. had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of $880,000 at the end of the year. Net credit sales during the year were $5,920,000. The average collection period of the receivables was

• A) 45 days.
• B) 52 days.
• C) 54 days.
• D) 104 days.

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