Asset Management Ratios Corn Products, Corp. ended the year 2018 with an average collection period of 42 days. The firm's credit sales for 2011 were $9.2 million. What is the approximate year-end 2013 balance in accounts receivable for Corn Products? (Consider 365 days a year.)
Multiple Choice
$4.5652 million
$386.4 million
$1.0586 million
$0.219 million
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Asset Management Ratios Corn Products, Corp. ended the year 2018 with an average collection period of...
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A
firm ended the year with an average collection period of 20 day.
The firm’s credit sales were $50 million. What is the firm’s
year-end balance in accounts receivable?
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