Question
Asset Management Ratios Corn Products, Corp. ended the year 2018 with an average collection period of 42 days. The firm's credit sales for 2011 were
Asset Management Ratios Corn Products, Corp. ended the year 2018 with an average collection period of 42 days. The firm's credit sales for 2011 were $9.2 million. What is the approximate year-end 2013 balance in accounts receivable for Corn Products? (Consider 365 days a year.)
Multiple Choice
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$4.5652 million
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$386.4 million
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$1.0586 million
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$0.219 million
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The Software Audit Guide
Authors: John W. Helgeson
1st Edition
0873897730, 978-0873897730
