Blaney Clothing Store had a balance in the Accounts Receivable account of $437500 at the beginning of the year and a balance of $500000 at the end of the year. Net credit sales during the year amounted to $3000000. The average collection period of the receivables in terms of days was
A) 53.2 days.
B) 365 days.
C) 60.1 days.
D) 57 days.

Question

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The Answer of Blaney Clothing Store had a balance in the Accounts Receivable account of $437500 at the beginning of the year and a balance of $500000 at the end of the year. Net credit sales during the year amounted to $3000000. The average collection period of the receivables in terms of days was
A) 53.2 days.
B) 365 days.
C) 60.1 days.
D) 57 days.

Blaney Clothing Store Had a Balance in the Accounts Receivable