Average Investment in Accounts Receivable. Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are $800,000, what is the...

Average Investment in Accounts Receivable. Milch Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are $800,000, what is the company’s average investment in accounts receivable?