On average your firm sells $42,400 of items each day. The firm's average operating cycle is 50 days and it acquires and sells inventory, on average, every 18 days. What is the average accounts receivable balance?

On average your firm sells $42,400 of items each day. The firm's average operating cycle is 50 days and it acquires and sells inventory, on average, every 18 days. What is the average accounts receivable balance?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...

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Question

Hi teacher please help me this question general accounting

On average your firm sells $42,400 of items each day. The
firm's average operating cycle is 50 days and it acquires and
sells inventory, on average, every 18 days.
What is the average accounts receivable balance?

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answer?