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The financial statements of the Oriole Company report net sales of $420000 and accounts receivable...

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Accounting

The financial statements of the Oriole Company report net sales of $420000 and accounts receivable of $55200 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.)

Select answer from the options below

27.3

47.6

37.5

78.0

Answer & Explanation Solved by verified expert
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