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?
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?
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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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?
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