Answered: A firm has an ACP of 38 days and its…

A firm has an ACP of 38 days and its annual sales are $5.3 million. What is its account receivable balance? Multiple Choice $551,781 $619,304 $692,098 $759,021

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Question

A firm has an ACP of 38 days and its annual sales are $5.3 million. What is its account receivable balance?

Multiple Choice

$551,781
$619,304
$692,098
$759,021

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