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. $

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. $

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Question

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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