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A company has net income of $189,000, a profit margin of 7.2 percent, and an accounts receivable balance of $128,370. Assuming 80 percent of sales
A company has net income of $189,000, a profit margin of 7.2 percent, and an accounts receivable balance of $128,370. Assuming 80 percent of sales are on credit, what is the companys days sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
Days' sales in receivables | days |
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