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
Q47: The ABC system of managing inventory:
A) is
Q48: If the planned level of sales is
Q49: The item that is not part of
Q50: Annual demand for product G is 117,000
Q51: Management of working capital is important because
Q53: Credit policy is composed of:
A) collection policies.
B)
Q54: Which of the following is not one
Q55: The motive behind the holding of cash
Q56: Which of the following is the most
Q57: An advantage of holding inventory is:
A) sales
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents