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Determine the accounts receivable average collection period

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Reference no: EM132251925

Question - The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal):

Item/Account 2019 2018

Accounts Receivable $48,000 $48,000

Inventory 42,000 38,000

Net Sales (all credit) 310,000 350,000

Cost of Goods Sold 154,000 152,000

Net Income 27,200 24,800

Use this information to determine the accounts receivable average collection period for FY 2019.

Reference no: EM132251925

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