A wants you to calculate its average days in accounts receivable for the year. Its beginning and ending balances for Accounts Receivable were $11,500 and $17,250, including GST, respectively. The beginning and ending balances for the Allowance account were $350 and $500, respectively. All sales are on credit and amounted to $135,000, while the ending balance for Sales Returns & Allowances was $10,000. What is the average days in accounts receivable? a. 35.26. b. 41.98. c. 40.73 d. 36.50.

A wants you to calculate its average days in accounts receivable for the year. Its beginning and ending balances for Accounts Receivable were $11,500 and $17,250, including GST, respectively. The beginning and ending balances for the Allowance account were $350 and $500, respectively. All sales are on credit and amounted to $135,000, while the ending balance for Sales Returns & Allowances was $10,000. What is the average days in accounts receivable? a. 35.26. b. 41.98. c. 40.73 d. 36.50.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 1CE

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