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Gold Clothing Store had a balance in the Accounts Receivable account of $810,000 at the beginning of the year and a balance of $850,000 at the end of the year. Net credit sales during the year amounted to $6,640,000. The average collection period of the receivables in terms of days was

a. 91.3 days.

b. 45.6 days.

c. 30 days.

d. 46.7 days.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M969002

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