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A company has net income of $183,000, a profit margin of 9.30 percent, and an accounts receivable balance of $106,924. Assuming 72 percent of sales
A company has net income of $183,000, a profit margin of 9.30 percent, and an accounts receivable balance of $106,924. Assuming 72 percent of sales are on credit, what is the company's days' sales in receivables? |
Multiple Choice
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19.83 days
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7.71 days
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36.85 days
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27.55 days
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28.92 days
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