Runners Ink, Inc. had sales last year of $700,000 and 35 percent of its sales are for cash, with the remainder buying on terms of net 30 days. If the receivables conversion period is actually 38 days, what is Runners Ink's accounts receivable?
A) $72,877
B) $25,507
C) $47,370
D) none of the above
Correct Answer:
Verified
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