What is the amount of the company accounts receivable

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Question 1 - The Red Zeppelin Corporation has annual sales of $55 million. The average collection period is 53 days. What is the average investment in accounts receivable as shown on the balance sheet?

Question 2 - Essence of Skunk Fragrances, Limited, sells 3,500 units of its perfume collection each year at a price per unit of $3DD. All sales are cm credit with terms of 2ND, net 30. The discount is taken by 55 percent of the customers. What is the amount of the company's accounts receivable?

Reference no: EM133136902

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