ABC Company had a balance in the Accounts Receivable account of $600,000 at the beginning...
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Accounting
ABC Company had a balance in the Accounts Receivable account of $600,000 at the beginning of the year and a balance of $500,000 at the end of the year. Net credit sales during the year amounted to $3,000,000. The average collection period of the receivables in terms of days is approximately 1 53 days II. 365 days 1.67 days 1.57 days
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