Size of accounts receivable the turn it up corporation sells on credit terms of net 30. Its

Question:

Size of accounts receivable the turn it up corporation sells on credit terms of net 30. Its accounts are, on average, 7 days past due. If annual credit sales are $8 million, what is the company’s balance sheet amount in accounts receivable?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...