Question
Southeast Jewelers Inc. sells only on credit. Its days sales outstanding is 60 days, and its average accounts receivable balance is $500,000. Assume a 365-day
Southeast Jewelers Inc. sells only on credit. Its days sales outstanding is 60 days, and its average accounts receivable balance is $500,000. Assume a 365-day year. What are its sales for the year?
A. a. $2,041,667
B. b. $3,041,667
C. c. $3,341,667
D. d. $3,661,667
E. e. $3,961,667
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Finance For Nonfinancial Managers
Authors: Gene Siciliano
2nd Edition
0071824367, 978-0071824361
