Question
Mr. Husker Tuxedos Corp. ended the year 2015 with an average collection period of 37 days. The firms credit sales for 2015 were $56.6 million.
Mr. Husker Tuxedos Corp. ended the year 2015 with an average collection period of 37 days. The firms credit sales for 2015 were $56.6 million.
What is the year-end 2015 balance in accounts receivable for Mr. Husker Tuxedos? (Enter your answer in dollars, not millions. Round your answer to the nearest whole dollar. Use 365 days a year.)
Accounts receivable $
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Equity Valuation And Portfolio Management
Authors: Frank J. Fabozzi, Harry M. Markowitz
1st Edition
047092991X, 9780470929919
