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The Strong Box has sales of $859,700, cost of goods sold of $648,200, net income of $93,100, and accounts receivable of $102,300. How many days of sales are in receivables?

Respuesta :

Answer:

There are 43.43 days of sales are in receivables.

Explanation:

Given,

Sales - $859,700

Cost of goods sold - $648,200

Net income -  $93,100

Accounts receivable - $102,300.

The formula to calculate sales days in receivables is shown below:

[tex]\dfrac{\text{Accounts receivable}}{\text{Net credit sales}}\times365[/tex]

[tex]\frac{\$102,300}{\$859,700}\times 365 days[/tex]

43.43 days.

Thus,There are 43.43 days of sales are in receivables.

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