Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $

Foundations of Business (MindTap Course List)
6th Edition
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter15: Using Management And Accounting Information
Section15.8B: Financial Ratios
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Problem 9-15
A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales?
Assume there are 365 days in a year. Round your answer to the nearest dollar.
$
Transcribed Image Text:Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 33 days after the sale). If the receivables are $109,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $
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