Problem 9-09 If a firm has sales of $20,689,000 a year, and the average collection period for the industry is 50 days, what should this firm's accounts receivable be if ther firm is comparable to the industry? Assume there are 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar. $
Problem 9-09 If a firm has sales of $20,689,000 a year, and the average collection period for the industry is 50 days, what should this firm's accounts receivable be if ther firm is comparable to the industry? Assume there are 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar. $
Chapter15: Managing Short-term Assets
Section: Chapter Questions
Problem 10PROB
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Transcribed Image Text:Problem 9-09
If a firm has sales of $20,689,000 a year, and the average collection period for the industry is 50 days, what should this firm's accounts receivable be if the
firm is comparable to the industry? Assume there are 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar.
$
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