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What is the average collection period of the receivables

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Question 1: Crown Clothing Store had a balance in the Accounts Receivable account if P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. The net credit sales during the year amounted to P4,000,000. Using the 360 day period, what is the average collection period of the receivables?

a. 30 days

b. 65 days

c. 73 days

d. 36 days

Reference no: EM132497957

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