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What average collection period of the accounts receivable

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Problem 1: Novak Corp. had a balance in the Accounts Receivable account of $785000 at the beginning of the year and a balance of $858000 at the end of the year. Net credit sales during the year amounted to $8215000. The average collection period of the accounts receivable in terms of days was

25.9 days.

36.5 days.

Reference no: EM132913974

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