The Rye Corporation Has Provided the Following Information

question 42

Multiple Choice

The Rye Corporation has provided the following information:
Total sales were $1,200,000.
Beginning net accounts receivable was $45,000.
Ending net accounts receivable was $65,000.
Sales returns and allowances totaled $100,000.
What was Rye's average collection period?

• A)16.7
• B)19.7
• C)36.5
• D)18.3