Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning of the year and a balance of $840,000 at the end of the year. Net credit sales during the year amounted to $7,200,000. The average collection period of the accounts receivable in terms of days was
A) 30 days.
B) 81.1 days.
C) 42.4 days.
D) 40.6 days.

Question

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The Answer of Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning of the year and a balance of $840,000 at the end of the year. Net credit sales during the year amounted to $7,200,000. The average collection period of the accounts receivable in terms of days was
A) 30 days.
B) 81.1 days.
C) 42.4 days.
D) 40.6 days.

Winsor Clothing Store Had a Balance in the Accounts Receivable