Average Investment in Accounts Receivable. The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after...

Average Investment in Accounts Receivable. The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average $25,000. What is the investment in accounts receivable?