Given an accounts receivable turnover of 8 and annual credit sales of $362,000, the average collection period (360-day year) is
A) 90 days.
B) 45 days.
C) 75 days.
D) 60 days.

Question

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The Answer of Given an accounts receivable turnover of 8 and annual credit sales of $362,000, the average collection period (360-day year) is
A) 90 days.
B) 45 days.
C) 75 days.
D) 60 days.

Given an Accounts Receivable Turnover of 8 and Annual Credit