Grave Company Had $150,000 in Sales on Account Last Year

question 55

Multiple Choice

Grave Company had $150,000 in sales on account last year.The beginning accounts receivablebalance was $14,000,and the ending accounts receivable balance was $10,000.The company's average collection period (age of receivables) was closest to which of the following?

• A) 24.33 days.
• B) 29.20 days.
• C) 34.07 days.
• D) 58.40 days.

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