The financial statements of danielle manufacturing company report net sales of $600,000 and accounts receivable of $60,000 and $90,000 at the beginning and end of the year, respectively. what is the average collection period for accounts receivable in days

45.63 days.

Explanation:

The average collection period is the time measured in days that the company have to wait until all of its accounts receivable have been perceived. If the have sold 600,000 dollars between the beginning and the end of the year, and they have an average of 75,000 in accounts receivable ((60,000+90,000)/2), that means the accounts receivable accumulate 45.63 days of sales (75,000*365/600,000), or that they have to wait 45.63 days until they collect all the credits.

it's actually a very difficult task, due to not many people can make 2 million dollars in 2 years. besides that, to the not-so-realistic ideas, you can create a business. it could be practically anything, but make it into a business that isn't that known yet, you get me? also, lets not forget about stock market. that's where all the good stuff happens. use investments at the beginning and begin to raise up your business or whatever you're going to do. as this is a very non-realistic idea, it's still worth the shot!