Question
Mr. Husker's Tuxedos Corp. ended the year 2015 with an average collection period of 41 days. The firm's credit sales for 2015 were $55.2 million.
Mr. Husker's Tuxedos Corp. ended the year 2015 with an average collection period of 41 days. The firm's credit sales for 2015 were $55.2 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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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
