Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year and a year-end balance of $610,000. Net credit sales for the year totaled $3,000,000. The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day) OA 74 days OB. 50 days OC. 12 days OD. 62 days
Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year and a year-end balance of $610,000. Net credit sales for the year totaled $3,000,000. The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day) OA 74 days OB. 50 days OC. 12 days OD. 62 days
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...
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