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At the beginning of 2011, Clay Ventures has accounts
receivable of $100,000. By the end of 2011, Clay reports net
credit sales of $1,900,000, cost of goods sold of $920,000 and
accounts receivable of $200,000. What is the average collection
period for 2011 for Clay?
a. 39.7 days
b. 59.5 days
c. 28.8 days
d. 38.4 days

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  • 1. At the beginning of 2011, Clay Ventures has accounts receivable of $100,000. By the end of 2011, Clay reports net credit sales of $1,900,000, cost of goods sold of $920,000 and accounts receivable of $200,000. What is the average collection period for 2011 for Clay? a. 39.7 days b. 59.5 days c. 28.8 days d. 38.4 days