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4vir4ik [10]
3 years ago
6

Delta Distributors has accounts receivable of $2,750,000 and average daily credit sales of $118,280. The firm offers credit term

s of 2/10, net 30. On average, what is the firm's accounts receivable period?
Business
1 answer:
liq [111]3 years ago
3 0

Answer:

The firm's accounts receivable period is 23.25 days

Explanation:

Accounts receivable period = 365 / Account receivable turnover ratio

When Account receivable turnover ratio = Net sales / Account receivables

Account receivable turnover ratio = 118,280 * 365 days/ 2,750,000

Account receivable turnover ratio = 15.698

Hence, Account receivable period = 365 / 15.698

Account receivable period = 23.25 days

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Answer:

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