Cascade Vista has sales of $1.3 million. The cost of goods sold is equal to 72% of sales. The beginning accounts receivable balance is $108,000 and the ending accounts receivable balance is
$121,000. How long on average does it take the firm to collect its receivables?
A) 23.15 days
B) 24.68 days
C) 32.15 days
D) 33.74 days
E) 35.09 days
Correct Answer:
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