A firm has total annual sales (all credit) of P1,200,000 and accounts receivable of P500,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to P300,000? choose the letter of the correct answer a. 51.3 days b. 61.3 days c. 71.3 days d. 81.3 days e. 91.3 days

A firm has total annual sales (all credit) of P1,200,000 and accounts receivable of P500,000. How rapidly (in how many days) must accounts receivable be collected if management wants to reduce the accounts receivable to P300,000? choose the letter of the correct answer a. 51.3 days b. 61.3 days c. 71.3 days d. 81.3 days e. 91.3 days

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 10QTD

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