The company only sells goods on credit 2015 2016 Accounts receivable $900,000 $800,000 Sales revenue was $8,100,000,

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The company only sells goods on credit

2015 2016

Accounts receivable $900,000 $800,000

Sales revenue was $8,100,000,

sales returns and allowances were $20,000, and

sales discounts were $40,000

What was the company's average collection period of the receivables in terms of days? (Use 365 days as the total number of days in the year.)

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

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Posted Date: Aug 16, 2023 02:00 AM

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The company only sells goods on credit 2015 2016 Accounts receivable $900,000 $800,000 Sales revenue was $8,100,000,

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Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

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