The Big Box Store has annual credit sales of $3,268,200 and cost of goods sold of $2,428,600.The average accounts receivable balance is $39,400.How many days on average does it take the firm to collect its accounts receivable?
A) 3.97 days
B) 6.30 days
C) 7.27 days
D) 8.13 days
E) 4.40 days
Correct Answer:
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