A Retailer Has a Collection Period of 37 Days

question 68

Multiple Choice

A retailer has a collection period of 37 days.Its net sales equal $1,000,000.Its accounts receivable equals ________.

• A) $27,027
• B) $36,000
• C) $101,370
• D) The answer cannot be determined from the information provided.

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Definitions:

Spending Money

Funds allocated for personal, discretionary use, typically for purchases outside of essential living expenses.

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The official currency of the Russian Federation, symbolized as RUB and used for all financial transactions within the country.

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The Eurozone's official monetary unit, utilized by 19 out of the 27 member states of the European Union.