Boom Lay Corp. has a current accounts receivable balance of $327,815. Credit sales for the year just

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Boom Lay Corp. has a current accounts receivable balance of $327,815. Credit sales for the year just ended were $4,238,720.

1. What is the receivables turnover?

2. What are the days’ sales in receivables?

3. How long did it take on average for credit customers to pay off their accounts during the past year?

Related Book For answer-question

Fundamentals of corporate finance

ISBN: 978-0078034633

10th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Posted Date: Jun 29, 2018 11:30 AM

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Boom Lay Corp. has a current accounts receivable balance of $327,815. Credit sales for the year just

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Fundamentals of corporate finance

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