Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lorenzo Carter Corp. has net income of $150,000, sales of $1,624,098, and an accounts receivable balance of $127,100. Assume that 100% percent of sales are
Lorenzo Carter Corp. has net income of $150,000, sales of $1,624,098, and an accounts receivable balance of $127,100. Assume that 100% percent of sales are on credit. What is the days' sales in receivables? 36.19days33.18days18.37days31.90days28.56days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started