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At year-end, Slippery has cash of $19,000, current accounts receivable of $120,000, merchandise inventory of $26,000, and prepaid expenses totaling $6,000 Liabilities of $40,000 must
At year-end, Slippery has cash of $19,000, current accounts receivable of $120,000, merchandise inventory of $26,000, and prepaid expenses totaling $6,000 Liabilities of $40,000 must be paid next year Assume accounts receivable had a beginning balance of $40,000 and net credit sales for the current year totaled $960,000. How many days did it take Slippery 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.) 15 46 30 61
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