Data from Dunshee Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730. The average collection period for Year 2 is closest to:
A)1.1 days
B)0.9 days
C)84.3 days
D)87.3 days

Question

Data from Dunshee Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730. The average collection period for Year 2 is closest to:
A)1.1 days 
B)0.9 days 
C)84.3 days 
D)87.3 days

Quizplus · Accepted Answer

The Answer of Data from Dunshee Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,170 and the cost of goods sold was $730. The average collection period for Year 2 is closest to:
A)1.1 days 
B)0.9 days 
C)84.3 days 
D)87.3 days

Data from Dunshee Corporation's Most Recent Balance Sheet Appear Below