Morning Star Has Credit Sales of $1,032,800, Costs of Goods

question 6

Multiple Choice

Morning Star has credit sales of $1,032,800, costs of goods sold of $662,350, average accounts receivable of $86,300, and average accounts payable of $92,600. On average, how long does it take Morning Star's credit customers to pay for their purchases?

• A) 11.97 days
• B) 39.24 days
• C) 30.50 days
• D) 21.88 days
• E) 19.56 days

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Definitions:

Ethics

Ethics refers to the moral principles that govern a person's behavior or the conduct of an activity.