Reference no: EM132612743
The following amounts relate to ABC Inc.
Trade receivables, December 31, year 1, debit balance 100000
Allowance for doubtful accounts, December 31, year 1, credit balance 2500
Trade receivables, December 31, year 2, debit balance 180000
Allowance for doubtful accounts, December 31, year 2, credit balance 6000
Net Sales for year 2 on credit 1700000
Bad debt expense for year 2 10000
Question 1: Calculate the average collection period in days.
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