A company has sales of $1.9 million and 15 percent of sales are cash. The accounts receivable balance at the end of the year is $210,000.

What is the average collection period? (Use a 360-day year. Do not round intermediate estimates. Round your final answer to 2 decimal places.)

Average collection period __________ days?

Answer rating: 100% (QA)

First we need to calculate the amount of cash sales Cash sales 15 of 19 million 015 x 19 million 285... View the full answer