Question
XYZ's receivables turnover is 18x. The accounts receivable at year-end are $390,000. The average collection period is 120 days. What was the sales figure for
XYZ's receivables turnover is 18x. The accounts receivable at year-end are $390,000. The average collection period is 120 days. What was the sales figure for the year assuming all sales are on credit?
Multiple Choice
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$7,020,000
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$121,667
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$21,667
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$390,000
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Financial And Managerial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
5th Edition
1618532324, 9781618532329
