Fill This Form To Receive Instant Help
Homework answers / question archive / The following data extracted from the financial statements of AAA company for the year 2018: Net Income $75,000, Net credit sales $295,000, Inventory $59,000 and Account receivable $26,000
The following data extracted from the financial statements of AAA company for the year 2018: Net Income $75,000, Net credit sales $295,000, Inventory $59,000 and Account receivable $26,000. In addition, the financial statements for the year 2017 showed that Current liabilities $47,000, Inventory $55,000, Account receivable $24,000 and Marketable securities $32,000. The Days in Receivables for the year 2018 is:
a. 58.12
b. 29.67
c. 32.16
d. 30.93