A company had receivables of $85,000 and annual sales of $985,000. How many days did it take the company to collect its average level of receivables? Assume a 365-day year. a. 45 days b. 32 days c. 28 days d. 31 days

A company had receivables of $85,000 and annual sales of $985,000. How many days did it take the company to collect its average level of receivables? Assume a 365-day year. a. 45 days b. 32 days c. 28 days d. 31 days

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Don't use ai please give me answer general accounting question

A company had receivables of $85,000 and annual sales of
$985,000. How many days did it take the company to collect its
average level of receivables? Assume a 365-day year.
a. 45 days
b. 32 days
c. 28 days
d. 31 days

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