Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as outstanding
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Question:
Assuming a 365-day year, how long (in average days) does the collectibles from
customers stay as outstanding accounts receivable if Company Z has a total sale of
$1,800,000 of which $200,000 are cash sales and the beginning and ending accounts
receivable balances are $30,000 and $50,000, respectively.
1. 11.40 days
2. 9.13 days
3. 6.84 days
4. 8.11 days
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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