At year-end, Snow has cash of $ 16,000, current accounts receivable of $ 90,000, merchandise inventory of $ 45,000, and prepaid expenses totaling $ 5,700. Liabilities of $ 50,000 must be paid next year. Assume accounts receivable had a beginning balance of $ 30,000 and net credit sales for the current year totaled $ 360,000. How many days did it take Snow to collect its average level of receivables?

Answer rating: 100% (QA)

account receivable 90000 beg account receivable 30000 net credit sale 360000 required a... View the full answer