Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 30 days. The firm's credit sales for 2008 were $10.9 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider a 365 days a year.)

Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 30 days. The firm's credit sales for 2008 were $10.9 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider a 365 days a year.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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