Tough Company is basing next year's budget on sales of $27 million. Tough expects that 80% of sales will be on credit, with n/30 terms. Tough estimates that relaxing the credit policy will increase credit sales by 30% and increase the average collection period from 28 to 40 days. Based on a 360-day year, what is the expected increase in Tough's average accounts receivable balance

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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