On average your firm sells $26,500 of items on credit each day. Your average operating cycle is 51 days and your firm acquires and sells inventory on average every 19 days. What is your average
Accounts receivable balance?
A) $503,500
B) $848,000
C) $1,012,500
D) $1,315,500
E) $1,855,000
Correct Answer:
Verified
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