Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has net income of $191,000, a profit margin of 9.4 percent, and an accounts receivable balance of $130,370. Assuming 70 percent of sales

A company has net income of $191,000, a profit margin of 9.4 percent, and an accounts receivable balance of $130,370. Assuming 70 percent of sales are on credit, what is the companys days sales in receivables?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Finance questions

Question

Who did you wish to speak to?

Answered: 1 week ago

Question

When measuring shelves, 7 inches (is, are) significant.

Answered: 1 week ago