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    mk21231's Avatar
    mk21231 Posts: 1, Reputation: 1
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    #1

    Nov 16, 2009, 09:51 AM
    Average receiavables balance
    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's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Nov 17, 2009, 02:37 AM

    Please see the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-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.
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