10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.
10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...
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