For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. . On average how many days of sales were in Accounts Receivable during the year? 27 37 49

For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000. . On average how many days of sales were in Accounts Receivable during the year? 27 37 49

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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Question

For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000.
At the beginning of the year, its Accounts Receivable were $80,000 and its Inventory was $100,000. At the end
of the year, its Accounts Receivable were $86,000 and its Inventory was $110,000.
On average how many days of sales were in Accounts Receivable during the year?
27
37
49

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