Guliana Company reported net sales of $150,000 for the current year. Accounts Receivable at the beginning of the year was $17,000 and $15,000 at the end of year. The days' sales in average receivables was closest to:

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Days' sales in average receivables is calculated as (Average Accounts Receivable / Net Sales) * 365. The average accounts receivable is ($17,000 + $15,000) / 2 = $16,000. Thus, ($16,000 / $150,000) * 365 = 38.9 days.

Guliana Company Reported Net Sales of $150,000 for the Current