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ahrayia [7]
3 years ago
12

Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales $4,250,000 Accounts receivable: Beg

inning of year 600,000 End of year 630,000 Determine the number of days' sales in receivables for the year.
Business
1 answer:
lord [1]3 years ago
5 0

Answer:

Average Receivables= (600,000+630,000)/2=615,000

Days sales in receivables= Average receivables/ average sales per day

Average sales per day= 4,250,000/365=11,644

Days in receivables = 615,000/11,644=52.88

Explanation:

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