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Riordan Trucking has sales of $18M and an accounts receivable balance of $1M. The firm has projected next year's sales at $24M and wants to

Riordan Trucking has sales of $18M and an accounts receivable balance of $1M. The firm has projected next year's sales at $24M and wants to reduce ACP by 2 days. Calculate Riordan's projected accounts receivable balance. (Round to the nearest $ and assume 360 days.)

a. $1.0M

b. $1.2M

c. $1.4M

d. $1.6M

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