The Appliance Giant has annual credit sales of $2,846,334 and cost of goods sold of $2,112,882.The average accounts receivable balance is $47,280.How many days on average does it take the firm to collect its accounts receivable?
A) 5.64 days
B) 7.97 days
C) 8.94 days
D) 8.17 days
E) 6.06 days
Correct Answer:
Verified
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