Mervyns Fine Fashions has an average collection period of 50 days. The accounts receivable balance is $95,000.

Question:

Mervyn’s Fine Fashions has an average collection period of 50 days. The balance is $95,000. What is the value of its credit sales?

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...