FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The financial statements of the Pina Colada Corp. report net sales of $408000 and accounts receivable of $60000 and $31200 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) O 30.6 O 40.8 O 50.9 O 81.3
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Transcribed Image Text:The financial statements of the Pina Colada Corp. report net sales of $408000 and accounts receivable of $60000 and $31200 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) O 30.6 O 40.8 O 50.9 O 81.3
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