ABC CoHas an Average Collection Period of 60 Days

question 98

Multiple Choice

ABC Co.has an average collection period of 60 days.Total credit sales for the year were $3,285,000.What is the balance in accounts receivable at year-end? (Use 365 days in a year.)

• A) $54,750
• B) $109,500
• C) $540,000
• D) $547,500

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Definitions:

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