Question
A company has net income of $194,000, a profit margin of 9.2 percent, and an accounts receivable balance of $133,370. Assuming 65 percent of sales
A company has net income of $194,000, a profit margin of 9.2 percent, and an accounts receivable balance of $133,370. Assuming 65 percent of sales are on credit, what are the days of company's accounts receivable sales? (Use all 365 days of the year. Do not round intermediate calculations and round your final answer to 2 decimal places (eg, 32.16).) |
Days of sales in accounts receivable | days |
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
13th Edition
1265553602, 978-1265553609
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