Question
The following information is taken from the annual report of Acid Industries: (in thousands) Year 2 Year 1 Net sales $293,400 $210,400 Accounts receivable, net
The following information is taken from the annual report of Acid Industries:
| (in thousands) | Year 2 | Year 1 |
| Net sales | $293,400 | $210,400 |
| Accounts receivable, net | 40,400 | 32,800 |
What is the receivable collection period for Year 2?
Group of answer choices
48.9 days
50.3 days
8.5 days
11.8 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
Culture Audit In Financial Services Reporting On Behaviour To Conduct Regulators
Authors: Dr Roger Miles
1st Edition
1789667755, 978-1789667752
