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Johnson Inc. had sales of $43180260 in 2020 . Their average receivables period, which is also known as average collection period (ACP), for the year
Johnson Inc. had sales of $43180260 in 2020 . Their average receivables period, which is also known as average collection period (ACP), for the year was 35.2 days. Assuming a 365 day year, what was their average investment in accounts receivable for 2020 ? (Hint: If this question was from chapter 3 , you would be solving for the ending accounts receivable balance, using the exact same method). Round your answer to the closest dollar. Average investment in accounts receivable =$ Mark for Review What's This
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