Question
This year, ABC had sales of $40,977,000 and an Accounts Receivable Turnover Ratio (Sales / Accounts Receivable) of 8.7. ABC projects that next year, its
This year, ABC had sales of $40,977,000 and an Accounts Receivable Turnover Ratio (Sales / Accounts Receivable) of 8.7. ABC projects that next year, its sales will grow by 10 percent while its Accounts Receivable Turnover Ratio will drop to 8.4. If that happens, what will be the total dollar amount in accounts receivable next year?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley Eakins
6th International Edition
0321552113, 9780321552112
