Question: Use the following partial financial statement information to answer this question: Partial Income Statement Cash Sales 5 0 0 , 0 0 0 Credit Sales

Use the following partial financial statement information to answer this question:
Partial Income Statement
Cash Sales 500,000
Credit Sales 360,000
Cost of goods sold $256,000
General & Admin Exp $90,000
Partial Balance Sheet
Accounts receivable $12,000
Inventory $32,000
Accounts payable $64,000
On average, how long did it take the company to collect credit sales from its customers (assume a 365 day year)?
8.76 days
64.89 days
17.11 days
32.44 days
45.63 days
12.17 days
 Use the following partial financial statement information to answer this question:

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