Based on the following data for the current year, what is the number of days' sales in accounts receivable? Assume a year has 360 days. Sales on account during the year $945,000 Cost of merchandise sold during the year $425,000 Account receivable, the beginning of year $83,000 Account receivable, end of year Inventory, the beginning of year Inventory, end of year $95,000 $115,000 $98,000

Based on the following data for the current year, what is the number of days' sales in accounts receivable? Assume a year has 360 days. Sales on account during the year $945,000 Cost of merchandise sold during the year $425,000 Account receivable, the beginning of year $83,000 Account receivable, end of year Inventory, the beginning of year Inventory, end of year $95,000 $115,000 $98,000

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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What is the number of day's sales in accounts receivable?
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