Answered step by step
Verified Expert Solution
Question
1 Approved Answer
MC algo 18-9 Accounts Receivable Period The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed
MC algo 18-9 Accounts Receivable Period The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed In outlying regions. The company has annual sales of $630,800. Cost of goods sold average 50 percent of sales and the profit margin is 6.3 percent. The average accounts receivable balance is $36,500. On average, how long does it take the company to collect payment for its services? Assume 365 days per year. Multiple Choice O 17.29 days 19.36 days 17.42 days 28.93 days 21.12 days
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