An account receivable is an outstanding debt owed to a business by a customer. The "age" of an account receivable is the length of time that it has been outstanding. At the end of October, a firm has $12,570 in receivables that are 30 days "old," $6,850 that are 60 days "old," and $1,325 that are 90 days "old." What is the average "age" of its accounts receivable at the end of October?

Question

Quizplus · Accepted Answer

The Answer of An account receivable is an outstanding debt owed to a business by a customer. The "age" of an account receivable is the length of time that it has been outstanding. At the end of October, a firm has $12,570 in receivables that are 30 days "old," $6,850 that are 60 days "old," and $1,325 that are 90 days "old." What is the average "age" of its accounts receivable at the end of October?

An Account Receivable Is an Outstanding Debt Owed to a Business