Question
ABC Company has annual sales of $460,319 and cost of goods sold of $198,600. The average accounts receivable balance is $119,858. How many days on
ABC Company has annual sales of $460,319 and cost of goods sold of $198,600. The average accounts receivable balance is $119,858. How many days on average does it take the firm to collect its accounts receivable? Assume 365 days.
Enter your answer rounded off to two decimal points. For example, if your answer is 12.345 then enter as 12.35 in the answer box.
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
