Asset management ratios-accounts receivable for corn product

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Reference no: EM131492874

Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 49 days. The firm's credit sales for 2008 were $9.9 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider a 365 days a year.)

$485.1 million

$4.9495 million

$1.329 million

$0.202 million

Reference no: EM131492874

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