Crocket Motors has an account receivable balance of $682,400 and the average collection period is 38 days.What are the firm's credit sales per day?
A)$17,957.89
B)$23,333.33
C)$71,044.38
D)$259,312.00
E)$236,408.11

Question

Quizplus · Accepted Answer

The firm's credit sales per day can be calculated by dividing the account receivable balance by the average collection period: $682,400 / 38 days = $17,957.89.

Crocket Motors Has an Account Receivable Balance of $682,400 and the Average