Question
Company Y projects sales for next year to be $10 million and the firm's accounts receivable balance has historically been 15% of firm sales. Using
Company Y projects sales for next year to be $10 million and the firm's accounts receivable balance has historically been 15% of firm sales. Using the percent of sales method what is your estimate of company Y's accounts receivable balance for next year?
| a.$15 million |
| b.$1.5 million |
| c.$150,000 |
| d.Cannot be determined |
| e.None of the above |
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Microeconomics
Authors: Glenn Hubbard, Anthony O'Brien
7th Edition
0134737504, 978-0134737508
