The Holiday Corporation Had Sales of $450 Million This Year

question 106

Multiple Choice

The Holiday Corporation had sales of $450 million this year.Its accounts receivable balance averaged $30 million.How long,on average,does it take the firm to collect on its sales?

• A)15.0 days
• B)24.3 days
• C)12.2 days
• D)16.7 days
• E)19.2 days

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