Multiple Choice
A firm has annual credit sales of $5,000,000 and an average collection period of 52 days. What is their average debtors balance, assuming a 365-day year?
A) $712,345
B) $486,111
C) $142,857
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q51: The statement concerning the just-in-time inventory management
Q52: Management of working capital is important because
Q53: Working capital is a measure of a
Q54: Which statement concerning working capital is not
Q55: Credit should be granted to customers in
Q57: A company wishes to reduce the amount
Q58: Because of uncertainty of demand, a firm
Q59: Which of the following is not one
Q60: If inventory turnover changes from 4 times
Q61: Pink Company expects demand for a product