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

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Definitions:

Feasibility Reports

Documents assessing the practicality and potential success of a proposed project or system.

Detailing Costs

The process of breaking down and itemizing the expenses associated with a project, product, or service.

Business Document

A formal written record that is used for business purposes, such as contracts, reports, memos, or proposals.

Psychological Weight

The perceived importance or emotional impact of a thought, decision, or object on an individual’s mind.