Henderson Retailers has annual sales of $450,000 and a cost of goods sold of $250,000. The average accounts receivable balance is $18,500. How many days on average does it take the firm to collect its accounts receivable?

Henderson Retailers has annual sales of $450,000 and a cost of goods sold of $250,000. The average accounts receivable balance is $18,500. How many days on average does it take the firm to collect its accounts receivable?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Question

Please provide answer this financial accounting question not use ai

Henderson Retailers has annual sales of $450,000 and a cost of
goods sold of $250,000. The average accounts receivable
balance is $18,500.
How many days on average does it take the firm to collect its
accounts receivable?

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