A company has an accounts receivable turnover of 33.5 days, an average inventory of $120,000, and an average accounts payable balance of $52,000. What is the company's accounts receivable collection period? In your calculations, assume there are 360 days in a year.

Answer rating: 100% (QA)

The accounts receivable turnover is defined as the number of times a company collects its average accounts receivable balance in a year We can use this formula to calculate the accounts receivable col... View the full answer