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Mathematics
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Suppose Lacey Corporation has total credit sales $757,000 . If the balance sheet reports accounts receivable $53,402, what is Lacey average collection period ( Assume a 365-day year) the average collection period is?

May 20th, 2015

credit sales= 757,000

accounts recievable= 53,402

lacey average collection period= average collection period= (days*AR)/Credit sales

=(365*53402)/757,000

25.74

approximately 26 days

May 20th, 2015

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