Marie's clothing store had an accounts receivable of $420,000 at the beginning of the year and a year end balance of $510,000. Met credit sales for the year totaled $2,100,000. The average collection period of the receivables was:

a) 91 days

b) 52 days

c) 41 days

d) 81 days

Answer rating: 100% (QA)

d 81 days Debtor turnover ratio Net credit ... View the full answer