The Real Deal Corporation has annual credit sales of $57 million. The average collection period is 34

Question:

The Real Deal Corporation has annual credit sales of $57 million. The average collection period is 34 days. What is the average investment in accounts receivable as shown on the balance sheet?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...