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Skye Flyer, Inc. has weekly credit sales of $20,500, and the average collection period is 41 days. What is the average accounts receivable figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Skye Flyer, Inc. has weekly credit sales of $20,500, and the average collection period is 41 days. What is the average accounts receivable figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

FINANCIAL ACCOUNTING
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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Skye Flyer, Inc. has weekly credit sales of $20,500, and the average collection period is 41 days. What is the average accounts receivable figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Transcribed Image Text:Skye Flyer, Inc. has weekly credit sales of $20,500, and the average collection period is 41 days. What is the average accounts receivable figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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