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Kitchen and Laundry and More Has Annual Credit Sales of $2,473,701

Question 109

Multiple Choice

Kitchen and Laundry and More has annual credit sales of $2,473,701 and cost of goods sold of $1,838,207.The average accounts receivable balance is $56,736.How many days on average does it take the firm to collect its accounts receivable?


A) 8.94days
B) 9.27 days
C) 11.24 days
D) 10.47 days
E) 8.37 days

Correct Answer:

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