Super Mart has sales of $542,300.The cost of goods sold is equal to 59 percent of sales.The beginning accounts receivable balance is $86,534,and the ending accounts receivable balance is $84,209.How long on average does it take the firm to collect its receivables?
A) 57.46 days
B) 66.08 days
C) 39.19 days
D) 43.92 days
E) 49.11 days
Correct Answer:
Verified
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