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The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?

The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?

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The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?
Transcribed Image Text:The company has a net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what are the company's days' sales in receivables?
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