ABX Corporation Had Sales of $47

question 26

Multiple Choice

ABX corporation had sales of $47.6 million this year and an average accounts receivable of $6.3 million per day.Its credit terms specify "1/10 net 30." On average,how long does it take to collect on its sales?

• A)7.56 days
• B)12.17 days
• C)18.25 days
• D)21.49 days
• E)48.31 days

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