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-The Firm's Average Collection Period Is: (Use 365 Days in r

question 51

Multiple Choice

$\begin{array}{l} \text { LIABILITIES AND SHAREHOLDERS' EQUITY }\\ \begin{array} { l r } \text { Accounts payable } & \$ 60,000 \\ \text { Accrued expenses } & 40,000 \\ \text { Long-term debt } & 130,000 \\ \text { Common stock } & 80,000 \\ \text { Retained earnings } & \underline { 100,000 } \\ \text { Total Liabilities and Shareholders' Equity } & \underline { \$ 410,000 } \end{array} \end{array} -The firm's average collection period is: (Use 365 days in a year.) A) 31 days. B) 25 days. C) 12 days. D) 20 days.$
$\begin{array}{l}\text { LIABILITIES AND SHAREHOLDERS' EQUITY }\\\begin{array} { l r } \text { Accounts payable } & \$ 60,000 \\\text { Accrued expenses } & 40,000 \\\text { Long-term debt } & 130,000 \\\text { Common stock } & 80,000 \\\text { Retained earnings } & \underline { 100,000 } \\\text { Total Liabilities and Shareholders' Equity } & \underline { \$ 410,000 }\end{array}\end{array}$
$\begin{array}{l} \text { LIABILITIES AND SHAREHOLDERS' EQUITY }\\ \begin{array} { l r } \text { Accounts payable } & \$ 60,000 \\ \text { Accrued expenses } & 40,000 \\ \text { Long-term debt } & 130,000 \\ \text { Common stock } & 80,000 \\ \text { Retained earnings } & \underline { 100,000 } \\ \text { Total Liabilities and Shareholders' Equity } & \underline { \$ 410,000 } \end{array} \end{array} -The firm's average collection period is: (Use 365 days in a year.) A) 31 days. B) 25 days. C) 12 days. D) 20 days.$
-The firm's average collection period is: (Use 365 days in a year.)

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OneDrive

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