Multiple Choice
For the Prince Company,the average age of accounts receivable is 60 days,the average age of accounts payable is 45 days,and the average age of inventory is 72 days.Assume a 360-day year.If Prince's annual sales are $936,000,what is the firm's average accounts receivable balance?
A) $104,000
B) $118,000
C) $156,000
D) $212,000
E) $260,000
Correct Answer:
Verified
Correct Answer:
Verified
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