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Size of Accounts Receivable

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Corporate Finance question:

Tidwell, Inc. has weekly credit sales of $19,400, and the average collection period is 34 days. The cost of production is 75 percent of the selling price. What is the average accounts receivable figure?

The book explains monitoring receivables and aging schedules but nothing about average accounts receivable figures. What is the formula for answering this question? Is it obvious and I am missing it? Can you please let me know the formula to figure this out?

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Corporate Finance question:
Tidwell, Inc. has weekly credit sales of $19,400, and the average collection period is 34 days. The cost of production ...

Solution Summary

Response discusses Size of Accounts Receivable

$2.19