Question: 77. The following table sets out the aging schedule for a firm's accounts receivables. What is the average collection period? Aging Schedule Age of Account

77. The following table sets out the aging schedule for a firm's accounts receivables. What is the average collection period? Aging Schedule Age of Account % of Total Value of Sales Cash Sales 20% 20 days 40% 40% 60 days a) 32 days b) 40 days c) 60 days d) 24 days e) 27 days

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