Summit Industries has net sales on account of $2,400,000. The company's net accounts receivable were $800,000 at the beginning of the year and $880,000 at the end of the year. Calculate the average number of days that accounts receivable were outstanding. A. 127 days B. 165 days C. 201 days D. 254 days

Summit Industries has net sales on account of $2,400,000. The company's net accounts receivable were $800,000 at the beginning of the year and $880,000 at the end of the year. Calculate the average number of days that accounts receivable were outstanding. A. 127 days B. 165 days C. 201 days D. 254 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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