The newkirk corporation has annual credit sales of 37, Ask an Expert

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The Newkirk Corporation has annual credit sales of $37 million. The average collection period is 39 days. (Enter your answer as directed, but do not round intermediate calculations.)

Required: What is the average investment in accounts receivable as shown on the balance sheet? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91622944

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