Asset management ratios corn products corp ended the year, Finance Basics

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Asset management ratios corn products corp ended the year

Question: Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 35 days. The firm's credit sales for 2008 were $10.4 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider a 365 days a year.)

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