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Question
goll clothing store had a balance in the accounts receivable account of $820,000 at the beginning of the year and a balance of $880,000 at the end of the year. net credit sales during the year amounted to $7,310,000. the average collection period of the receivables in terms of days was
a.44 days
b.42.4 days
c.365 days
d.41 days
Answer
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