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CTP · Question #459
CTP Question #459: Real Exam Question with Answer & Explanation
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Question
- (Topic 5) The company's monthly credit sales are in Table 1 and its receivables collection pattern is in Table 2. If this company wishes to achieve a second quarter (April-June) DSO of 60 days, what would its ending accounts receivable balance need to be? Assume a 90-day quarter.
Options
- A$666,667
- B$1,333,333
- C$1,500,000
- D$3,000,000
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