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Based on the following information, calculate the annual credit sales for Cavu Air, Inc. Hint: You will have to calculate Receivables turnover in order to
Based on the following information, calculate the annual credit sales for Cavu Air, Inc.
Hint: You will have to calculate Receivables turnover in order to determine Annual Credit Sales.
Collection Period | 28 |
Daily investment in receivables | $49,250 |
# days per year | 365 |
A | 642,008.93 |
B | 22,928.89 |
C | 3,778.08 |
D | 133,225.00 |
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