Oriole Technology's operating cycle is 90 days. Its inventory was $142,000 at the end of last year, and the company had cost of goods sold of $1.1 million. How long does it take Oriole 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 Oriole days to collect on its accounts receivable.

Oriole Technology's operating cycle is 90 days. Its inventory was $142,000 at the end of last year, and the company had cost of goods sold of $1.1 million. How long does it take Oriole 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 Oriole days to collect on its accounts receivable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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