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nataly862011 [7]
3 years ago
7

A company has net credit sales of​ $1,200,000, beginning net accounts receivable of​ $290,000, and ending net accounts receivabl

e of​ $201,000. What is the​ days' sales in accounts​ receivable? (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest whole​ day.)
Business
1 answer:
7nadin3 [17]3 years ago
8 0

Answer:

Days of receivable will be 75 days

Explanation:

We have given net credit sales = $1200000

Net account receivable at the beginning = $290000

And receivable at the ending = $201000

Average receivable =\frac{290000+201000}{2}=$245500

Now receivables turnover ratio =\frac{credit\ sales}{average\ receivable}=\frac{1200000}{245500}=4.888

Days of receivables = \frac{365}{4.888}=74.67=75days

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