A company has net income of $263,000, a profit margin of 7.4 percent, and an accounts receivable

Question:

A company has net income of $263,000, a profit margin of 7.4 percent, and an accounts receivable balance of $165,700. Assuming 80 percent of sales are on credit, what is the company’s days’ sales in receivables?

Accounts Receivable
Accounts 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...