Question
Answering the following questions: A) A company has net income of $185,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,265.
Answering the following questions:
A) A company has net income of $185,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,265. Assuming 78 percent of sales are on credit, what is the company's days' sales in receivables?
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