Bilt Rite, Inc. has sales of $610,000. The cost of goods sold is equal to 70% of sales. The beginning accounts receivable balance is $21,000 and the ending accounts receivable balance is $25,000. How long on average does it take the firm to collect its receivables?  

 

Answer rating: 100% (QA)

To calculate the average collection period we need to use the accounts receivable turnover ratio for... View the full answer