A firm sells $$300$ million worth of goods per year, and the average balance in accounts receivable is $$75$ million. $($Accounts receivable is when the firm sells an item, but hasn't collect the payment yet$).$ How long does it take for the firm to collect an accounts receivable dollar, on average?

Answer rating: 100% (QA)

To calculate the average collection period ACP we use the ... View the full answer