Blue Temple, Inc. has net credit sales of $3,550,000. The average net accounts receivable are $215,000....
Blue Temple, Inc. has net credit sales of $3,550,000. The average net accounts receivable are $215,000. Calculate the days' sales in receivables. (Round any intermediate calculations and your final answer to two decimal places.)
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4.59 days |
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60.00 days |
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|
22.10 days |
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|
16.51 days |
Homework Answers
Correct answer-----------22.10 days
Working
| Receivables Turnover ratio | |||||||
| Numerator | Net sales | = | $ 3,550,000.00 | = | 16.51 | Times | |
| Denominator | Average Receivables | $ 215,000.00 | |||||
.
| Average Days sales in Receivables | |||||||
| Numerator | Days in year | = | 365 | = | 22.10 | Days | |
| Denominator | Receivables Turnover ratio | 16.51 | |||||
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Blue Temple, Inc. has net credit sales of $3,550,000. The
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