A firm named Apex Innovations has $600,000 in receivables and $4,000,000 in total assets. The total asset turnover rate is 1.4, and the profit margin is 6 percent. What are the days' sales in receivables?
A firm named Apex Innovations has $600,000 in receivables and $4,000,000 in total assets. The total asset turnover rate is 1.4, and the profit margin is 6 percent. What are the days' sales in receivables?
Chapter16: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 11P
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What are the day's sales in receivables of these financial accounting question?
Transcribed Image Text:A firm named Apex Innovations has $600,000 in receivables and
$4,000,000 in total assets. The total asset turnover rate is 1.4, and
the profit margin is 6 percent. What are the days' sales in
receivables?
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