MULTIPLE CHOICE Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? * A. P168,611.11 B. P178,611.11 C. P188,611.11 D. P244,444.00 E. P198,611.11

MULTIPLE CHOICE Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? * A. P168,611.11 B. P178,611.11 C. P188,611.11 D. P244,444.00 E. P198,611.11

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 6P

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MULTIPLE CHOICE

Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P650,000, what is the company’s average investment in accounts receivable? *
A. P168,611.11
B. P178,611.11
C. P188,611.11
D. P244,444.00
E. P198,611.11

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