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    Accounts Receivable Balance

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    Barney's Antique Shop has annual credit sales of $1,080,000 and an average collection period of 40 days in 2007. Assume a 360-day year. What is the company's average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period.

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    Barney's Antique Shop has annual credit sales of $1,080,000 and an average collection period of 40 days in 2007. Assume a ...

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    This solution is comprised of a detailed explanation to answer what is the company's average accounts receivable balance.

    $2.19

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