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What was the average receivables balance

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Problem 1: Krackle Korn Inc. had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 35 days. What was its average receivables balance, based on a 365-day year?

Option a. $352,397

Option b. $370,017

Option c. $388,518

Option d. $335,616

Option e. $407,944

Reference no: EM132613741

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