What is average investment in accounts receivable

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Reference no: EM131353228

The Bates Corporation has annual credit sales of $35 million. The average collection period is 37 days.

What is the average investment in accounts receivable as shown on the balance sheet? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131353228

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