Question 1 Not yet answered Marked out of 7.00 Brown Corporation had average days of sales outstanding of 21 days in the

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Question 1 Not Yet Answered Marked Out Of 7 00 Brown Corporation Had Average Days Of Sales Outstanding Of 21 Days In The 1 (48 KiB) Viewed 38 times

Question 1 Not yet answered Marked out of 7.00 Brown Corporation had average days of sales outstanding of 21 days in the most recent fiscal year. Brown wants to improve its credit policies and collection practices and decrease its collection period in the next fiscal year to match the industry average of 14 days. Credit sales in the most recent fiscal year were $399 million, and Brown expects credit sales to increase to $550 million in the next fiscal year. To achieve Brown's goal of decreasing the collection period, what is the change in the average accounts receivable balance that must occur? Flag question 9 million (Assume 1 year=365 days. Calculate to two decimal places, X.XX. Use - sign for decrease.)