ALPHA, Inc. sells all of its products on credit. Purchases are 60% of the sales for the following quarter. The firm uses a 365-day year and account averages where applicable in its computations.
The financial manager of the firm provides the following relevant information:
What is the accounts receivable balance at the end of Quarter 1?
A) $2,467
B) $2,878
C) $3,333
D) $3,533
E) $4,122
Correct Answer:
Verified
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