ibu Corporation has annual credit sales of $35 million. The s 37 days. What is the average investment in accounts rece nce sheet? (Do not round intermediate calculations and e not millions of dollars, rounded to 2 decimal places, e.g., 1. receivables
ibu Corporation has annual credit sales of $35 million. The s 37 days. What is the average investment in accounts rece nce sheet? (Do not round intermediate calculations and e not millions of dollars, rounded to 2 decimal places, e.g., 1. receivables
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5. Find the average receivables

Transcribed Image Text:The Malibu Corporation has annual credit sales of $35 million. The average collection
period is 37 days. What is the average investment in accounts receivable as shown on
the balance sheet? (Do not round intermediate calculations and enter your answer in
dollars, not millions of dollars, rounded to 2 decimal places, e.g.., 1,234,567.89.)
Average receivables
< Prev
Type here to search
口i
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