Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Managers at Funck Inc. provide You with the following data: Ending receivables balance: $450,000 Receivables, on average, can be converted to cash in 28 days

Managers at Funck Inc. provide You with the following data:

Ending receivables balance: $450,000

Receivables, on average, can be converted to cash in 28 days

Ending inventory balance: $375,000

Inventory, on average, can be liquidated in 49 days

How many days will it take to convert the receivables and inventory to cash?

Enter your answer as a number with two decimal places of precision (i.e. 1.34)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Financial Literacy

Authors: Joan S. Ryan , Christie Ryan

3rd Edition

1337412686,1305980697

More Books

Students also viewed these Finance questions