bridgeport discount retail company had a balance in the accounts receivable account of $750000 at the beginning of the year and a balance of $830000 at the end of the year. Net credit sales during the year amounted to $6320000. The average collection period of the accounts receivable in terms of days was
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Step 1
To find the average accounts receivable, add the beginning and ending balances of accounts receivable and then divide by 2. Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2 Average Accounts Receivable = Show more…
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