What was its average receivables balance

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Reference no: EM13911626

Philip Philips Inc. had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 40 days. What was its average receivables balance, based on a 365-day year?

$335,616

$342,258

$370,017

$383,562

$407,944

Reference no: EM13911626

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