Spirit of the Suwannee Craft Store had a balance in the Accounts Receivable account of...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Spirit of the Suwannee Craft Store had a balance in the Accounts Receivable account of $437,500 at the on January 1, 2019 and a balance of $500,000 on Dec 31, 2019. Net credit sales for 2019 amounted to $3,500,000. The average collection period of the receivables in terms of days was Select one: a. 45.6 days b. 48.6 days c. 99 days d. 57 days
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
