Answered: Robie Co. operates 365 days in a year.…

Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days. Credit sales are P274,200. What is the average receivable?

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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Question

Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days. Credit sales are P274,200. What is the average receivable?

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