The Bear Rug has sales of $811,000. The cost of goods sold is equal to 63 percent of sales. The beginning accounts receivable balance is $41,000 and the ending accounts receivable balance is $38,000. How long on average does it take the firm to collect its receivables?
(A) 17.26 days
(B) 17.78 days
(C) 18.58 days
(D) 20.44 days
(E) 29.77 days
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