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    What is the average value of Microlimp's unpaid bills?

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    On average, it takes Microlimp's customers 60 days to pay their bills. If Microlimp has annual sales of $500 million, what is the average value of unpaid bills?

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    Solution Preview

    How many days in a year ? 365 days
    365/30 = approximately 12 pay periods
    500 Million/12 = 41 2/3 Million is sold per pay period
    lets say in period 1 sales are 41 2/3 30 ...

    Solution Summary

    This solution provides calculations for the average value of unpaid bills in each billing cycle.