Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.
Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.)
It takes Blossom
days to collect on its accounts receivable.
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