Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of S410,000 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.)73 days. b.]30 days. c)365 days. d.j146 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 S410,000 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.)73 days. b.]30 days. c)365 days. d.j146 days.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 10EB: My Aunts Closet Store collects 60% of its accounts receivable in the month of sale and 35% in the...

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