Question
A company has net income of $198,000, a profit margin of 8.8 percent, and an accounts receivable balance of $137,370. Assuming 70 percent of sales
A company has net income of $198,000, a profit margin of 8.8 percent, and an accounts receivable balance of $137,370. Assuming 70 percent of sales are on credit, what is the companys days sales in receivables?
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Contemporary Financial Management
Authors: R. Charles Moyer, William J. Kretlow, James R. Mcguigan
8th Edition
0324065914, 9780324065916
