I want to this question answer general accounting River Valley Technologies has an average collection period of 45 days. Its averagedaily investment in receivables is $72,500.a. Calculate the receivables turnover. (Use 365 days a year. Do not roundintermediate calculations and round your final answer to 4 decimal places.)b. Determine the annual credit sales. (Use 365 days a year. Do not round intermediatecalculations and round your final answer to 2 decimal places.)

Step 1: Define Receivables Turnover and Annual Credit SalesReceivables Turnover measures how many…

Answered: River Valley Technologies has an…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 33P

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