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Forecast the accounts receivable for Company XYZ using the following annual information
Forecast the accounts receivable for Company XYZ using the following annual information.
Receivable days assumption = 55 days
Payable days assumption = 69 days
Forecasted revenue = $263,500
Forecasted cost of goods sold = $114,780
Review Later
21,698
17,296
39,705
49,812
Expert Solution
Answer:
Receivable days = No. of days for which the credit sales is outstanding before collection.
|
Receiables Days |
55 |
Days |
|
|
Forecasted Revenue |
263500 |
|
|
|
Days in Year |
365 |
|
|
|
Forecasted Receivables = (Receiables *Forecasted Revenue )/365 |
39705 |
|
|
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