Question: Using the information provided, what is the collection cycle for the firm? Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales

Using the information provided, what is the collection cycle for the firm? Allied Industries, Inc. Selected Income Statement Items, 2017 Cash Sales $1,500,000 Credit Sales $7.500,000 Total Sales $9,000,000 COGS $6,000,000 Allied Industries, Inc. Selected Balance Sheet Accounts 12/31/2017 12/31/2016 Change Accounts Receivable $270,000 $240.000 $30,000 Inventory $125,000 S100,000 $25,000 O A. 12.41 days O B. 7 60 days C. 6 84 days 0 D. 10 34 days Click to select vour

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