Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mariota's has annual sales of $530,600 and cost of goods sold of $344,890. The beginning accounts receivable was $44,800 and the ending receivables is $50,500.

image text in transcribed
Mariota's has annual sales of $530,600 and cost of goods sold of $344,890. The beginning accounts receivable was $44,800 and the ending receivables is $50,500. How many days on average does it take the company to collect its accounts receivable? Assume 365 days per year. 30.82 days 11.1400 days 30.05 days 0 0 0 0 32.78 days 34.74 days

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

Step: 3

blur-text-image

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

Salomon Smith Barney Guide To Mortgage Backed And Asset Backed Securities

Authors: Lakhbir Hayre

1st Edition

0471385875, 978-0471385875

More Books

Students also viewed these Finance questions