A year ago receivables stood at $92,500, and sales for the current year totaled $1,350,000. How many days did it take the company to collect its average level of receivables? a. 42 days b. 38 days c. 25 days d. 31 days

A year ago receivables stood at $92,500, and sales for the current year totaled $1,350,000. How many days did it take the company to collect its average level of receivables? a. 42 days b. 38 days c. 25 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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Question

need correct answer general accountting

A year ago receivables stood at $92,500, and sales for the current year
totaled $1,350,000. How many days did it take the company to collect
its average level of receivables?
a. 42 days
b. 38 days
c. 25 days
d. 31 days

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