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Determine accounts receivable average collection period

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Reference no: EM132445982

Question - Given: Financial information for Aco fiscal years ending 2019 and 2018 (all balances are normal)

Item/Account

2019

2018

Accounts Receivable

$45,000

$30,000

Inventory

40,000

35,000

Net Sales (all credit)

450,000

350,000

Cost of Goods Sold

150,000

150,000

Net income

27,000

24,000

Required - Determine accounts receivable average collection period for FY 2019?

Reference no: EM132445982

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