Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ABC Corp has the following data: Total sales $40,000,000 Days of Receivables 28 Days in year 365 What is the actual accounts receivable amount? a
| ABC Corp has the following data: | ||
| Total sales | $40,000,000 | |
| Days of Receivables | 28 | |
| Days in year | 365 | |
| What is the actual accounts receivable amount? | ||
| a | Accounts receivable = | $3,068,493 |
| b | Accounts receivable = | $400,000,000 |
| c | Accounts receivable = | $3,086,493 |
| d | Accounts receivable = | $3,125,678 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Short Term Financial Management
Authors: Terry S. Maness, John T. Zietlow
2nd Edition
0030315131, 978-0030315138
