The Carrying Value of Its Account Receivable Is $700,000 and the Average

question 2

Multiple Choice

The carrying value of its account receivable is $700,000 and the average collection period is 45 days. The firm's credit sales per day are:

• A) $15,555.56.
• B) $23,333.33.
• C) $4,666,666.67.
• D) $700,000.00.

---

Definitions:

Alpha Waves

Brainwave patterns associated with a state of wakeful relaxation and calm alertness.

Theta Waves

A type of brainwave pattern associated with sleep, deep relaxation, and certain stages of memory processing, typically in the frequency range of 4–8 Hz.

Beta Waves

Brainwave patterns associated with active, alert consciousness and cognitive engagement.

Suprachiasmatic Nucleus

A region of the brain in the hypothalamus responsible for controlling circadian rhythms.