Question
3points ItemSkipped eBook Item 16 A firm ended the year with an average collection period of 50 days. The firm's credit sales were $11 million.
3points
ItemSkipped
eBook
Item 16
A firm ended the year with an average collection period of 50 days. The firm's credit sales were $11 million. What is the firm's year-end balance in accounts receivable?
Multiple Choice
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$1.27 million
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$0.85 million
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$1.51 million
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$2.05 million
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Financial Reporting And Statement Analysis A Strategic Approach
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
5th Edition
032418638X, 978-0324186383
