Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2Year 1Current assets: Cash$140 $160 Accounts receivable, net 210 230 Inventory 240 200 Prepaid expenses 10 10 Total current assets$600 $600 Total current liabilities$360 $330 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900.The average collection period for Year 2 is closest to:
A. 1.1 days
B. 55.1 days
C. 0.9 days
D. 57.8 days
Answer: D
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