Homework Help: fin220

Posted by maggie on Wednesday, October 21, 2009 at 11:54pm.

Collins Office Supplies is considering a more liberal credit policy in order to increase sales The following data is available for the company:
Uncollectable new accounts 7%
Collection costs 6% of new sales
Production and selling costs 79%
Accounts receivable turnover 6
Income taxes 34%
expected increase in sales $75,000
due to the liberal credit policy what is the level of accounts receivable needed to support this sales expansion?

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