Bilt Rite,Inc. has sales of $610,000. The cost of goods sold is equal to 70% of sales. The beginning accounts receivable balance is $21,000 and the ending accounts receivable balance is $25,000. How long on average does it take the firm to collect its receivables?
A) 13.76 days
B) 14.09 days
C) 21.07 days
D) 25.98 days
E) 26.52 days
Correct Answer:
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