Question
A company has net income of $183,000, a profit margin of 7.7 percent, and an accounts receivable balance of $122,370. Assuming 80 percent of sales
A company has net income of $183,000, a profit margin of 7.7 percent, and an accounts receivable balance of $122,370. Assuming 80 percent of sales are on credit, what is the company's days' sales in receivables?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introduces Quantitative Finance
Authors: Paul Wilmott
2nd edition
470319585, 470319581, 978-0470319581
