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at year-end, schwartz has cash of $11,000, current accounts receivable of $20,000, merchandise inventory of $35,200, and prepaid expenses totaling $5,600. liabilities of $40,000 must
at year-end, schwartz has cash of $11,000, current accounts receivable of $20,000, merchandise inventory of $35,200, and prepaid expenses totaling $5,600. liabilities of $40,000 must be paid next year. assume accounts receivable had a beginning balance of $80,000 and net credit sales for the current year totaled $800,000. how many days did it take schwartz to collect its average level of receivables? (assume 365 days/year. round any interim calculations to two decimal places. round the number of days to the nearest whole number.)
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