Harborview Clinic's services result in $3,000 in daily billings to third-party payers. On average, it takes the clinic 50 days to collect its receivables. If the interest rate on loans needed to finance receivables (cost of carrying receivables) is 10 percent, what is the clinic's annual dollar cost of financing its receivables balance?

Answer rating: 100% (QA)

Solution To calculate the annual dollar cost of financing the receivables balance we need to first c... View the full answer