Ruby Falls Has an Average Collection Period of 35 Days

question 49

Multiple Choice

Ruby Falls has an average collection period of 35 days.Its average daily investment in receivables is $71,000.What are annual credit sales?

• A)$727,272
• B)$740,429
• C)$914,414
• D)$1,450,200
• E)$1,707,500

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Definitions:

Etruscan

Pertaining to an ancient civilization of Italy, known for its art, architecture, and complex society before Roman expansion.

Chimera of Arezzo

An ancient Etruscan bronze statue representing the mythological creature Chimera, noted for its artistic craftsmanship and significance in ancient art.

Bronze Statue

A sculpture made from bronze, a durable metal alloy, often used for significant historical, mythological, or artistic figures.

Etruscan Art

An ancient form of art from the Etruscan civilization of Italy, known for its tomb paintings, sculptures, and metalwork, predating Roman culture.