Question
3. Truckitalls accounts receivable as of November 30 were $1.5 million. During December, they had sales of $1.2 million and collected $900,000 in customer payments.
3. Truckitalls accounts receivable as of November 30 were $1.5 million. During December, they had sales of $1.2 million and collected $900,000 in customer payments.
a. What is the level of their accounts receivable on December 31?
b. What effect did the change in accounts receivable have on cash?
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Corporate Finance, European Edition
Authors: Peter Moles, Robert Parrino, David S. Kidwell
1st Edition
0470683708, 9780470683705
