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Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 33 days. The firm's credit sales for 2008 were

Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 33 days. The firm's credit sales for 2008 were $10.6 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider a 365 days a year.)

Multiple Choice

$3.1132 million

$349.8 million

$0.3212 million

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