Rawe Corporation's accounts receivable at the end of Year 2 was $329,000 and its accounts receivable at the end of Year 1 was $280,000. Sales, all on account, amounted to $1,350,000 in Year 2.The company's average collection period for Year 2 is closest to:
A. 82.4 days
B. 1.0 days
C. 89.0 days
D. 1.2 days
Answer: A
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Answer the following statement true (T) or false (F)
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