The Arizona Bay Corporation sells on credit terms of a net 30. Its accounts are, on average, 4 days past due. Annual credit sales are $5.7 million. What is the company's balance sheet amount in accounts receivable?

The Arizona Bay Corporation sells on credit terms of a net 30. Its accounts are, on average, 4 days past due. Annual credit sales are $5.7 million. What is the company's balance sheet amount in accounts receivable?

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 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Question

Given correct answer general Accounting question

The Arizona Bay Corporation sells on credit terms
of a net 30. Its accounts are, on average, 4 days past
due. Annual credit sales are $5.7 million.
What is the company's balance sheet amount in
accounts receivable?

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