A company has net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable
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A company has net income of $179,000, a profit margin of 8.3 percent, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables?
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For 
Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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