Question
A7X, Inc., has an average collection period of 25 days. Its average daily investment in receivables is $84,000. (Enter your answer as directed, but do
| A7X, Inc., has an average collection period of 25 days. Its average daily investment in receivables is $84,000. (Enter your answer as directed, but do not round intermediate calculations.) |
| Requirement 1: | |
| What is the receivables turnover? (Round your answer to 3 decimal places (e.g., 32.161).) |
| Receivables turnover | times |
| Requirement 2: |
| What are annual credit sales? (Round your answer to 2 decimal places (e.g., 32.16).) |
| Annual credit sales | $ |
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Public Finance In Theory And Practice
Authors: Holley Ulbrich
1st Edition
0324016603, 978-0324016604
