A company has net credit sales of $930,000, a beginning balance of net receivables of $76,000, and an ending balance of net receivables of $93,000. Its days' sales outstanding is: (Round any intermediary calculations to two decimal places and your final answer to the nearest day.)

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Quizplus · Accepted Answer

Days' sales outstanding = (Average net receivables / Net credit sales) x 365 daysAverage net receivables = (Beginning net receivables + Ending net receivables) / 2= ($76,000 + $93,000) / 2= $84,500Days' sales outstanding = ($84,500 / $930,000) x 365 days= 33.03 days= 33 days (rounded to the nearest day)

A Company Has Net Credit Sales of $930,000, a Beginning