The financial statements of Kingbird, Inc. reports net sales of $ 600000 and accounts receivable of $

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Question:

The financial statements of Kingbird, Inc. reports net sales of $600000 and accounts receivable of $79200 and $31200 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)

33.6 days

67.2 days

21.4 days

45.8 days