Firm accounts receivable balance


Elsee, Inc., has net sales of $13 million, and 75 percent of these are credit sales. Its cost of goods sold is 65 percent of annual sales. The firm's cash conversion cycle is 41.3 days. The inventory balance at the firm is $1,817,344, while its accounts payable balance is $2,171,690. What is the firm's accounts receivable balance?

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Finance Basics: Firm accounts receivable balance
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