Sunderland Furniture Company had net accounts receivable of $820,000 at the beginning of the year and $980,000 at the end of the year. Net sales revenue for the year was $7,100,000. What are the days to collect from customers? A. 40.2 days B. 45.1 days C. 48.7 days D. 52.3 days

Sunderland Furniture Company had net accounts receivable of $820,000 at the beginning of the year and $980,000 at the end of the year. Net sales revenue for the year was $7,100,000. What are the days to collect from customers? A. 40.2 days B. 45.1 days C. 48.7 days D. 52.3 days

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

What are the days to collect from customer?

Sunderland Furniture Company had net accounts receivable of $820,000 at the
beginning of the year and $980,000 at the end of the year. Net sales revenue for the
year was $7,100,000.
What are the days to collect from customers?
A. 40.2 days
B. 45.1 days
C. 48.7 days
D. 52.3 days

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What is the companys average collection period?
answer?