Depots Clothing Store Had an Accounts Receivable Balance of $420,000

question 30

Multiple Choice

Depots Clothing Store had an accounts receivable balance of $420,000 at the beginning of the year and a year-end balance of $510,000. Net sales for the year totaled $2,100,000. The average collection period of the receivables was:

• A) 162 days.
• B) 41 days.
• C) 51 days.
• D) 81 days.

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