If the Collection Period of a Company Is 30 Days,and

question 48

Multiple Choice

If the collection period of a company is 30 days,and the average receivables are $80,000 what is the total amount of the credit sales? (Round all calculations to the nearest dollar.)

• A)$2,667
• B)$10,950
• C)$941,935
• D)$973,455

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Definitions:

Median Amount

The middle value in a set of numbers, which divides the set into two equal halves.

Level Of Significance

A threshold chosen by the researcher which denotes the probability below which a null hypothesis is rejected, indicating statistical significance.

Quality Control

Processes and procedures implemented to ensure that a product or service meets predefined standards of excellence and customer expectations.

Bottling Plant

A facility where products, such as beverages, are put into bottles for distribution.