Chen, Inc., has an average collection period of 34 days. Its average daily investment in receivables is

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Chen, Inc., has an average collection period of 34 days. Its average daily investment in receivables is $61,300. What are annual credit sales? What is the receivables turnover?

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Corporate Finance

ISBN: 978-0077861759

11th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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Question Posted: Jun 22, 2017 10:12 AM

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Chen, Inc., has an average collection period of 34 days. Its average daily investment in receivables is

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Corporate Finance

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