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Henderson Corp. reports sales of $12,000,000 for 2023 with a gross profit margin of 45%. 25% of its sales are on credit. Item Accounts Receivable (AR) $180,000 Inventory Accounts Payable (AP) 2022 ($) 2023 ($) $200,000 $950,000 $1,050,000 $1,200,000 $1,300,000 Calculate the accounts receivable days outstanding at the end of 2023 using the year-end receivable balance.

Henderson Corp. reports sales of $12,000,000 for 2023 with a gross profit margin of 45%. 25% of its sales are on credit. Item Accounts Receivable (AR) $180,000 Inventory Accounts Payable (AP) 2022 ($) 2023 ($) $200,000 $950,000 $1,050,000 $1,200,000 $1,300,000 Calculate the accounts receivable days outstanding at the end of 2023 using the year-end receivable balance.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
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Henderson Corp. reports sales of $12,000,000 for 2023 with a gross profit margin of 45%. 25% of its sales are on credit. Item Accounts Receivable (AR) $180,000 Inventory Accounts Payable (AP) 2022 ($) 2023 ($) $200,000 $950,000 $1,050,000 $1,200,000 $1,300,000 Calculate the accounts receivable days outstanding at the end of 2023 using the year-end receivable balance.
Transcribed Image Text:Henderson Corp. reports sales of $12,000,000 for 2023 with a gross profit margin of 45%. 25% of its sales are on credit. Item Accounts Receivable (AR) $180,000 Inventory Accounts Payable (AP) 2022 ($) 2023 ($) $200,000 $950,000 $1,050,000 $1,200,000 $1,300,000 Calculate the accounts receivable days outstanding at the end of 2023 using the year-end receivable balance.
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