Average Investment Assignment | Homework For You
January 24th, 2020
The Red Zeppelin Corporation has annual sales of $44 million. The average collection period is 54 days. What is the average investment in accounts receivable as shown on the balance sheet? Assume 365 days per year. (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to nearest whole dollar amount.) |
Average receivables | $ |
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