Question 15 5 pts A company currently has trade receivables of $1,000,000. The trade receivables collection period based on a 365 day year is 50 days. In an attempt to reduce this figure, management intend to perform more rigorous checks before granting credit and expect sales to fall as a result. They estimate that to reduce the trade receivables collection period to 30 days, average sales will fall by 15%. Assuming that the company's new approach is successful, what will be the level of trade receivables following the change? O 510,000 0 776,000 O 600,000 0 540,000