Homework Answers
Credit sales = net sales - cash sales
= 348821- 69772
= $279049
Accounts receivable turnover = credit sales / average accounts receivable
= 279049/(58538+62396)/2
= 4.61 times
Days sales in accounts receivable = 365/ accounts receivable turnover
= 365/4.61
= 79 days
Option d. is correct answer.
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