Multiple Choice
Runners Ink, Inc. had sales last year of $700,000, and 35% of its sales are for cash, with the remainder buying on terms of net 30 days. If the receivables conversion period is actually 38 days, what is Runners Ink's accounts receivable?
A) $72,877
B) $25,507
C) $47,370
D) None of these are correct
Correct Answer:
Verified
Correct Answer:
Verified
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