Question: Can you explain the correct approach to solve this general accounting question? At the beginning of 2024, Apex Industries had accounts receivable of $240,000. At

Can you explain the correct approach to solve this general accounting question?

At the beginning of 2024, Apex Industries had accounts receivable of $240,000. At the end of 2024, the company had accounts receivable of $280,000. During 2024, Apex Industries had total credit sales of $3,650,000. What was this company's average collection period for 2024

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