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

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter10: Capital Budgeting: Decision Criteria And Real Option
Section: Chapter Questions
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What is the average investment in receivable on these financial accounting question?

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