Question
In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Vaughn 12.30 25.40 Lewis 13.10 25.90 Danforth
In the table below the information for four companies is provided.
| Company | Accounts Receivable turnover | Average collection period |
|---|---|---|
| Vaughn | 12.30 | 25.40 |
| Lewis | 13.10 | 25.90 |
| Danforth | 10.35 | 32.70 |
| Pina Colada | 13.65 | 26.25 |
| Industry Average | 12.95 | 25.55 |
If Pina Colada's net credit sales are $586950, what are its average net accounts receivable?
$13500
$43000
$80119
$136619
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Introduction To Financial Technology
Authors: Roy S. Freedman
1st Edition
0123704782, 9780123704788
