What is the average investment in receivable on these general accounting question? If the average collection period is73 days and sales are $50,000,what is the average investment inreceivables?

Explanation: In the given case, we are required to calculate the amount of average accounts…

Answered: If the average collection period is 73…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter10: Capital Budgeting: Decision Criteria And Real Option

Section: Chapter Questions

Problem 8P

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If the average collection period is 73 days and sales are $50,000, what is the average investment in receivables?