Barneys antique shop has annual credit sales of 1080000 and, Finance Basics

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Barneys antique shop has annual credit sales of 1080000 and

Question: Barney's Antique Shop has annual credit sales of $1,080,000 and an average collection period of 40 days. Assume a 360-day year. What is the company's average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period.

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Finance Basics: Barneys antique shop has annual credit sales of 1080000 and

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Finance Basics: Barneys antique shop has annual credit sales of 1080000 and

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