Two Doors Down, Inc., has weekly credit sales of $38,900, and the average collection period is 37 days. What is the company’s average accounts receivable figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Average accounts receivable ____ $ ?

    Average Collection Period = 365 / Average Receivables Turnover

    Average Receivables Turnover = 365 / Average Collection Period

    Net Credit Sales / Average accounts receivable = 365 / 37

    $38,900 / Average accounts receivable = 9.86

    Average accounts receivable = $38,900 / 9.86 = $3,943.29