Refer to the Monthly Sales for the Jetton Company. What is the average number of days to collect February sales for the Jetton Company?
A) 45 days
B) 30 days
C) 23.4 days
D) 19.75 days
Answer: C
Explanation: C) Average days to collect sales = 0 days ∗ 0.26 + 30 days ∗ 0.70 + 60 days ∗ .04 = 23.4 days.
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