Question: Using the data below, compute AVERAGE COLLECTION PERIOD. Note: If you need to compute the average balance for any account, assume that the beginning-of-year balance

Using the data below, compute AVERAGE COLLECTION PERIOD. Note: If you need to compute the average balance for any account, assume that the beginning-of-year balance is the same as the end-of-year balance reported above..

Accounts Payable 210

Accounts Receivable 1,600

Capital Stock 120

Cash 50

Cost of Goods Sold 300

Inventory 190

Long-term Debt 1,820

Net Income 140

Property, Plant, and Equipment (net) 700

Retained Earnings 390

Sales 1,500

Market value of shares 3,000

51.1 days

194.7 days

330.2 days

46.2 days

389.3 day

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