Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year: $750,000 Cost of merchandise sold during the year: $420,000 Account receivable, beginning of year: $60,000 Account receivable, end of year: $80,000 Inventory, beginning of year: $120,000 Inventory, end of year: $150,000

Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year: $750,000 Cost of merchandise sold during the year: $420,000 Account receivable, beginning of year: $60,000 Account receivable, end of year: $80,000 Inventory, beginning of year: $120,000 Inventory, end of year: $150,000

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 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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What is the number of day's sales in accounts receivable?
Based on the following data for the current year, what is the number of days' sales in receivable? Net sales on account during year $495,046 Cost of goods sold during year 202,912 Accounts receivable, beginning of year 45,637 Accounts receivable, end of year 52,238 Inventory, beginning of year 94,359 Inventory, end of year 104,951 Round your answer up to the nearest whole day.
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Based on the following data for the current year, what is the number of days' sales in receivables (rounded to one decimal place)? Assume 365 days a year. Sales on account during year $528,172 Cost of merchandise sold during year 163,114 Accounts receivable, beginning of year 46,257 Accounts receivable, end of year 46,750 Merchandise inventory, beginning of year 87,979 Merchandise inventory, end of year 112,127