Question
Rise Above This, Inc., has an average collection period of 68 days. Its average daily investment in receivables is $90,100. Assume 365 days per year.
| Rise Above This, Inc., has an average collection period of 68 days. Its average daily investment in receivables is $90,100. 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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Financial Derivative Investments An Introduction To Structured Products
Authors: Richard D. Bateson
1st Edition
1848167113, 9781848167117
