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Aaron Products is considering the implementation of a revised receivables policy, which will result in an increase in average collection period from the current 60 days to 90 days. This is expected to lead to a 20% increase in annual revenue, currently $960,000, resulting in additional inventories and trade payables of $30,000 and $22,000 respectively. It is expected that all customers will take advantage of the extended credit period. Calculate the net increase in working capital investment that would result from the change in policy, assuming a 360-day year. The net increase in working capital investment that would result from the change in policy, assuming a 360-day year, is: $________ |