A retail business reported annual net sales of $840,000 and had accounts receivable of $56,000 at the end of the year. How many days' sales remain uncollected? (Round your answer to the nearest number.)

A retail business reported annual net sales of $840,000 and had accounts receivable of $56,000 at the end of the year. How many days' sales remain uncollected? (Round your answer to the nearest number.)

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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Question

Can you solve this general accounting problem using appropriate accounting principles?

A retail business reported annual net sales of $840,000 and had
accounts receivable of $56,000 at the end of the year. How many
days' sales remain uncollected? (Round your answer to the nearest
number.)

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