ABX corporation had sales of $47.6 million this year and an average accounts receivable of $6.3 million per day.Its credit terms specify "1/10 net 30." On average,how long does it take to collect on its sales?
A)7.56 days
B)12.17 days
C)18.25 days
D)21.49 days
E)48.31 days

Question

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The Answer of ABX corporation had sales of $47.6 million this year and an average accounts receivable of $6.3 million per day.Its credit terms specify "1/10 net 30." On average,how long does it take to collect on its sales?
A)7.56 days
B)12.17 days
C)18.25 days
D)21.49 days
E)48.31 days

ABX Corporation Had Sales of $47