Bradford Corporation reported net credit sales of $3,200,000 and cost of goods sold of $2,600,000 for 2012. On January 1, 2012, accounts receivable was $450,000. Amounts owed by customers increased by $50,000 during 2012. Rounding the intermediate calculation to two decimal places, what is Bradford's days-in-receivables ratio for 2012?
A) 52.94
B) 53.67
C) 53.41
D) 54.15
Correct Answer:
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