The newkirk corporation has annual credit sales of 37, Financial Management

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The newkirk corporation has annual credit sales of 37

The Newkirk Corporation has annual credit sales of $37 million. The average collection period is 39 days. (Enter your answer as directed, but do not round intermediate calculations.)

Required: What is the average investment in accounts receivable as shown on the balance sheet? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).)

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Financial Management: The newkirk corporation has annual credit sales of 37

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