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The carrying value of a firm's accounts receivable is $1,000,000 and the average collection period is 55 days. The firm's credit sales per day are: A. $33,333.33 B. $18,181.82 C. $1,000,000 D. $1,333,333.33 E. None of the above.

The carrying value of a firm's accounts receivable is $1,000,000 and the average collection period is 55 days. The firm's credit sales per day are: A. $33,333.33 B. $18,181.82 C. $1,000,000 D. $1,333,333.33 E. None of the above.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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The carrying value of a firm's accounts receivable is $1,000,000 and the average collection period is 55 days. The firm's credit sales per day are: A. $33,333.33 B. $18,181.82 C. $1,000,000 D. $1,333,333.33 E. None of the above.
Transcribed Image Text:The carrying value of a firm's accounts receivable is $1,000,000 and the average collection period is 55 days. The firm's credit sales per day are: A. $33,333.33 B. $18,181.82 C. $1,000,000 D. $1,333,333.33 E. None of the above.
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