Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. the king corporation has annual sales of $26.5 mil

The King Corporation has annual sales of $26.5 million. The average collection period is 28...

50.1K

Verified Solution

Question

Finance

image

The King Corporation has annual sales of $26.5 million. The average collection period is 28 days. What is the average investment in accounts receivable as shown on the balance sheet? (Use 365 days per year. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) Average accounts receivable

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Using the dividend growth model, explain why a firm would be hesitant to reduce the growth...

Finance
Q

How does climate change affect organisms? Do some research and provide a scientifically documented example of an...

Biology
Q

From a hot air balloon Mariana measures a 40 angle of depression to a landmark...

Geometry
Q

1. Negative ions form when atoms valence electrons.2. In the formation of an ionic compound,...

Basic Math
Q

Write the first six terms of the following arithmetic sequence.an= a(n-1)-0.3, a? = 0.9

Basic Math
Q

3. Evin is walking home from the museum. She starts 38 blocks from home and...

Basic Math
Q

12 1 Select three 3 of the transformations that occured between the parent function and...

Algebra
Q

Lavage Rapide is a Canadian company that owns and operates a...

Accounting
Q

Financial statements attempt to capture financial information about an entity to assist users in...

Accounting
Q

This question was answered already but I got different figures from what was posted as...

Accounting
Q

81. XYZ firm has imported a machine from abroad. Which of the following is NOT...

Accounting
Q

Please help, I will thumb up the answers Item 1: On...

Accounting