During 2018, Kincolith Inc. (Kincolith) reported revenue of $125,125,000. During 2018, the average collection period for accounts

Question:

During 2018, Kincolith Inc. (Kincolith) reported revenue of $125,125,000. During 2018, the average collection period for accounts receivable was 47 days. Accounts receivable at the end of 2017 was 12 percent greater than at the end of 2018. What was Kincolith's accounts receivable at the end of 2017?

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...