Question
A company has net income of $192,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,519. Assuming 61 percent of sales
A company has net income of $192,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,519. Assuming 61 percent of sales are on credit, what is the company's days' sales in receivables?
Multiple Choice
19.44 days
33.46 days
41.47 days
12.43 days
31.87 days
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CFIN
Authors: Scott Besley, Eugene Brigham
5th edition
1305661656, 9781305888036 , 978-1305666870
