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Johnson Inc. had sales of $ 4 2 2 7 7 7 4 4 in 2 0 2 0 . Their average receivables period, which

Johnson Inc. had sales of $42277744 in 2020. Their average receivables period, which is also known as average collection period (ACP), for the year was 38.5 days. Assuming a 365 day year, what was their average investment in accounts receivable for 2020?(Hint: If this question was from chapter 3, you would be solving for the ending accounts receivable balance, using the exact same method). Round your answer to the closest dollar.
Average investment in accounts receivable = $ Blank 1. Calculate the answer by read surrounding text.

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