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djyliett [7]
3 years ago
5

A company has annual sales of $32,000 and accounts receivables of $2,200. The gross profit margin is 31.3%. The receivable days

estimated from the data above is ______.
Business
1 answer:
marissa [1.9K]3 years ago
8 0

Answer: 80.17 days

Explanation:

The Receivable days estimated is calculated by the formula:

= Accounts receivable * 365 / (Annual sales * Gross profit margin)

= 2,200 * 365/ (32,000 * 31.3%)

= 2,200 * 0.03644169329

= 80.17 days

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