Question
Mr. Husker's Tuxedos Corp. ended the year 2015 with an average collection period of 42 days. The firm's credit sales for 2015 were $55.1 million.
Mr. Husker's Tuxedos Corp. ended the year 2015 with an average collection period of 42 days. The firm's credit sales for 2015 were $55.1 million.
What is the year-end 2015 balance in accounts receivable for Mr. Husker's 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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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
