The Rye Corporation has provided the following information: • Total sales were $1,200,000.
• Beginning net accounts receivable was $45,000.
• Ending net accounts receivable was $65,000.
• Sales returns and allowances totaled $100,000.
What was Rye's average collection period?
A)16.73 days.
B)19.75 days.
C)36.50 days.
D)18.25 days.

Question

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The Answer of The Rye Corporation has provided the following information: • Total sales were $1,200,000.
• Beginning net accounts receivable was $45,000.
• Ending net accounts receivable was $65,000.
• Sales returns and allowances totaled $100,000.
What was Rye's average collection period?
A)16.73 days.
B)19.75 days.
C)36.50 days.
D)18.25 days.

The Rye Corporation Has Provided the Following Information: • Total