Based on the following data for the current year, what is the number of days' sales in receivables? Sales on account during year $584,000 Cost of goods sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000 Group of answer choices
Based on the following data for the current year, what is the number of days' sales in receivables? Sales on account during year $584,000 Cost of goods sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000 Group of answer choices
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the following data for the current year, what is the number of days' sales in receivables?
| Sales on account during year | $584,000 |
| Cost of goods sold during year | 300,000 |
| 45,000 | |
| Accounts receivable, end of year | 35,000 |
| Inventory, beginning of year | 90,000 |
| Inventory, end of year | 110,000 |
Group of answer choices
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