On Average,your Firm Sells $38,700 of Items on Credit Each

question 23

Multiple Choice

On average,your firm sells $38,700 of items on credit each day.The firm's average operating cycle is 49 days and it acquires and sells inventory,on average,every 17 days.What is the average accounts receivable balance?

• A)$657,900
• B)$848,000
• C)$1,238,400
• D)$1,315,500
• E)$1,896,300

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Definitions:

Underpriced IPOs

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