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A company has net credit sales of​ $1,200,000, beginning net accounts receivable of​ $290,000, and ending net accounts receivable of​ $201,000. What is the​ days' sales in accounts​ receivable? (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest whole​ day.)

Respuesta :

Answer:

Days of receivable will be 75 days

Explanation:

We have given net credit sales = $1200000

Net account receivable at the beginning = $290000

And receivable at the ending = $201000

Average receivable [tex]=\frac{290000+201000}{2}=$245500[/tex]

Now receivables turnover ratio [tex]=\frac{credit\ sales}{average\ receivable}=\frac{1200000}{245500}=4.888[/tex]

Days of receivables = [tex]\frac{365}{4.888}=74.67=75days[/tex]

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