What is the acp calculate the accounts receivable, Financial Management

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What is the acp calculate the accounts receivable

A firm’s current credit policy is 2/10, net 40. 48% of the receivables pay in 10 days, 50% pay in 40 and 2% pay in 100 days. If all sales are credit and annual sales are $300,000, using a 365 day year:

a. What is the ACP?

b. Calculate the accounts receivable level.

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