Problem:
On average, your firm sells $26,600 of items on credit each day. The firm's average operating cycle is 43 days and it acquires and sells inventory, on average, every 26 days.
Required:
Question: What is the average accounts receivable balance?
Note: Please provide full description.
$691,600
$1,143,800
$406,980
$452,200
$813,960