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find the annual credit sales for a firm with an average daily investment in receivable and...

find the annual credit sales for a firm with an average daily investment in receivable and collection period 69723 and 31.4 days respectively?

Solutions

Expert Solution

The annual credit sales = (Average daily investment in receivable * 365)/Collection period

The annual credit sales = (69,723 * 365)/31.4

The annual credit sales = 25,448,895/31.4

The annual credit sales = $810,474.3630573248

jeff jeffy answered 2 years ago
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