Gunton Corp. has net income of $218,000, a profit margin of 8.70 percent, and an accounts receivable

Question:

Gunton Corp. has net income of $218,000, a profit margin of 8.70 percent, and an accounts receivable balance of $132,850. Assuming 70 percent of sales are on credit, what are the Gunton’s days’ sales in receivables?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

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