Knight Roundtable Co. has annual credit sales of $1,080,000 and an average collection period of 32 days
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Knight Roundtable Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2018. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period.
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1080000 annual credit sales 360 da...View the full answer
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Related Book For 
Foundations Of Financial Management
ISBN: 9781264097623
18th Edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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