Question: Based on the following data for the current year, what is the number of days' sales in receivables? Assume 365-Day year. Sales on account during

Based on the following data for the current year, what is the number of days' sales in receivables? Assume 365-Day year. Sales on account during year $511,033 Cost of goods sold during year 213,530 Accounts receivable, beginning of year 40,710 Accounts receivable, end of year 50,579 Inventory, beginning of year 91,654 Inventory, end of year 118,643 Round your answer up to the nearest whole day

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!