Lenovo reports net sales of $360,000. At the beginning of the year, accounts receivable had...
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Lenovo reports net sales of $360,000. At the beginning of the year, accounts receivable had a balance of $50,000. At the end of the year, accounts receivable had a balance of $30,000. Based on this information, what is the average collection period for accounts receivable in days? A) 81.1 B) 29.4 C) 40.6 D) 55.7 9
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