Hubbell Electronic Wiring Company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of cred it Solution Hubbell Electronic wiring Company Accounts receivable Average collection period Average daily credit sales $105 35 days credit sales 360 Credit sales/360 $105.000 Credit sales/360=$3,000 credit sales per da Credit sales=$3,000×360=$1,080,000 CopyrightC 2005 by The McGray-Hill Companies, Inc. -250Copyright © 2005 by The McGraw-Hill Companies, Inc. S-250 7-9. Hubbell Electronic Wiring Company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of credit sales? Solution: Hubbell Electronic Wiring Company Credit sales $3,000 360 $1,080,000 Credit sales/360 $3,000 credit sales per day 35 days $105,000 Credit sales/360 360 credit sales $105,000 35 days Average daily credit sales Accounts receivable Average collection period =  = = =       = =