Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of $410,000 at the end of the year. Net credit sales during the year amounted to $2,000,000. The average collection period of the receivables in terms of days was: a. 30 days b. 146 days c. 73 days d. 365 days
Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of $410,000 at the end of the year. Net credit sales during the year amounted to $2,000,000. The average collection period of the receivables in terms of days was: a. 30 days b. 146 days c. 73 days d. 365 days
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Transcribed Image Text:Walker Clothing Store had a balance in the Accounts
Receivable account of $390,000 at the beginning of
the year and a balance of $410,000 at the end of the
year. Net credit sales during the year amounted to
$2,000,000. The average collection period of the
receivables in terms of days was:
a. 30 days
b. 146 days
c. 73 days
d. 365 days
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