A company has an accounts receivable balance of $300,000 as of the end of the year. Credit sales for the year totaled $2,000,000. What were the accounts receivable days outstanding as of the end of the year (not average for the year)?

A company has an accounts receivable balance of $300,000 as of the end of the year. Credit sales for the year totaled $2,000,000. What were the accounts receivable days outstanding as of the end of the year (not average for the year)?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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