Red hot chilis had annual credit sales of 800000 over the, Ask an Expert

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Red Hot Chili's had annual credit sales of $800,000 over the past year. During that time, average receivables were $200,000. What was the days' sales outstanding or average collection period (ACP)? [HINT: ACP = (365 days)(average receivables)Â ÷Â (annual credit sales).]

A. four days
B. 91 days
C. 46 days
D. 36 days

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