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Greeley [361]
3 years ago
11

Based on the following data for the current year, what is the number of days' sales in receivable?

Business
1 answer:
aliina [53]3 years ago
3 0

Answer:

Number  of days sales in receivables

= <u>Average  receivables</u>  x  365 days

  Sales

=  <u>$49,041</u>   x 365 days                                                                                                                                      

   $578,168

= 31 days

Explanation:

Average number of days sales in receivables is the ratio of average receivables to sales multiplied by 365 days. Average receivable is the aggregate of beginning and closing receivables divided by 2.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

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Answer:

c) Provide potential benefits to both the issuer and the investor.

Explanation:

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