Excerpts from Sydner Corporation's Most Recent Balance Sheet Appear Below

question 115

Multiple Choice

Excerpts from Sydner Corporation's most recent balance sheet appear below:
Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900.
-The average collection period for Year 2 is closest to:

• A) 55.1 days
• B) 0.9 days
• C) 1.1 days
• D) 57.8 days

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Definitions:

Southeast Asia

A geographic region in Asia that includes countries such as Thailand, Vietnam, Singapore, Indonesia, and the Philippines, characterized by diverse cultures and languages.

Northwestern Europe

A geographical region in Europe that includes countries like the United Kingdom, Ireland, the Netherlands, Germany, and the Nordic countries, known for its distinct climate, economic development, and culture.

Latin America

A region in the Western Hemisphere, comprising countries where Romance languages are spoken, notably Spanish, Portuguese, and French.

Americanize Immigrants

The process of assimilating immigrants into American culture, encouraging them to adopt American customs, values, and language.