Skye Flyer, Inc., has weekly credit sales of $23,500, and the average collection period is 34 days.

Question:

Skye Flyer, Inc., has weekly credit sales of $23,500, and the average collection period is 34 days. What is the average accounts receivable figure?

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...