Question
Rise Above This, Inc., has an average collection period of 52 days. Its average daily investment in receivables is $88,600. Assume 365 days per year.
Rise Above This, Inc., has an average collection period of 52 days. Its average daily investment in receivables is $88,600. Assume 365 days per year. |
What is the receivables turnover? (Round your answer to 4 decimal places. (e.g., 32.1616)) |
| Receivables turnover | times |
What are annual credit sales? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Annual credit sales | $ |
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Handbook Of The Economics Of Finance Corporate Finance Volume 1A
Authors: George M. Constantinides, M. Harris, Rene M. Stulz
1st Edition
0444513620, 978-0444513625
