A company has net income of $213,700, a profit margin of 7.1 percent, and an accounts receivable
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A company has net income of $213,700, a profit margin of 7.1 percent, and an accounts receivable balance of $126,385. Assuming 65 percent of sales are on credit, what is the company’s days’ sales in receivables?
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DAYS SALES IN RECEIVABLES To begin we first calculate the total sales amount by using the given prof...View the full answer
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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