Peterboro supply has a current accounts receivable balance of $391,648. credit sales for the year just ended were $5,338,411. how long did it take on average for credit customers to pay off their accounts during the past year

Time taken will be 31.35 days

Explanation:

We have given account receivable = $391648

Credit sales for the year = $5338411

Number of days in an year = 365 days

We have to find the time taken on average for credit customers to pay off their accounts during the past year

Time taken is given by

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