Answered: TICA Corporation had sales of $72…

TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4 million. How long, on average, does it take the firm to collect on its sales? help me with this

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 2P

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TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4 million. How long, on average, does it take the firm to collect on its sales? help me with this

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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