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…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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