A company has net income of $284,000, a profit margin of 8.1 percent, and an accounts receivable
Question:
A company has net income of $284,000, a profit margin of 8.1 percent, and an accounts receivable balance of $189,600. Assuming 80 percent of sales are on credit, what is the company’s days’ sales in receivables?
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This is a multistep problem involving several ratios It is often easier to look b...View the full answer
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Related Book For 
Corporate Finance Core Principles And Applications
ISBN: 9781260571127
6th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
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