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Sergeu [11.5K]
3 years ago
13

Gates Corp. has net income of $172,000, sales of $ 1,453,909, and an accounts receivable balance of $127,100. Assume that 100% p

ercent of sales are on credit. What is the days' sales in receivables?
Business
1 answer:
serious [3.7K]3 years ago
3 0

Answer:

Days' sales in receivables= 31.91 days

Explanation:

The day's sales in account receivable ratio is also called average collection period. It states the number of days on the average to collect a business's account receivable.

Days sales turnover is calculated by dividing total number of days in a year by the account recievables turnover ratio.

The formula for accounts receivable turnover ratio= Current credit sales received/ Accounts receivable balance

Accounts receivable turnover= 1,453,909/127,100

Accounts receivable turnover= 11.439

Assume a 365 day year

Days' sales in receivables= 365/Account receivable turnover

Days' sales in receivables= 365/11.439

Days' sales in receivables= 31.908~ 31.91 days

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2 years ago
Fred is a new employee who has been assigned to your team. This is the first time Fred has worked in your country. Aware that he
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Answer:

4.Teach Fred about how decisions are made and communicated, as well as how conflict is handled.

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3 years ago
In 1969, Malcolm bought a Pontiac Firebird for $2,500. If the price index was 36.7 in 1969 and the price index was 235 in 2013,
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Answer:

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Data provided in the question:

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