mk21231
Nov 16, 2009, 09:51 AM
Maddox resources has credit sales of $18,000 yearly with credit terms of net 30 days, which is also the average collection period. What is the average receivables balance?
What is the recievables turnover?
morgaine300
Nov 17, 2009, 02:37 AM
Please see the guidelines for posting homework:
https://www.askmehelpdesk.com/finance-accounting/announcement-font-color-ff0000-u-b-read-first-expectations-homework-help-board-b-u-font.html
But a suggestion would be to set up your equation, insert what you know, and work backwards to get to what you don't know.