The period of time which extends from the day a credit sale is made until the bank credits a ﬁrm's account with the payment for that sale is known as the _____ period.

Name: The period of time which extends from the day a credit sale is made until the bank credits a ﬁrm's account with the payment for that sale is known as the _____ period.
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Question

Quizplus · Accepted Answer

The accounts receivable period is the time between a credit sale and the receipt of payment, during which the firm waits to collect cash from its customers.

The Period of Time Which Extends from the Day a Credit