Using the Wong Company data below, compute AVERAGE COLLECTION PERIOD. Note: If you need to compute the average balance for any account, assume that the beginningofyear balance is the same as the endofyear balance. Assume all sales are on account. Also, not all accounts are shown, but all accounts necessary to compute average collection period are shown.
tableAccounts Payable,Accounts Receivable,Capital Stock or Paidin CapitalCashCost of Goods Sold,InventoryLongterm Debt,Net Income,Property Plant, and Equipment netRetained Earnings,Sales
