Jennifer has annual sales of $367,200 and cost of goods sold of $198,600.The average accounts receivable balance is $20,400.How many days on average does it take the firm to collect its accounts receivable?

Name: Jennifer has annual sales of $367,200 and cost of goods sold of $198,600.The average accounts receivable balance is $20,400.How many days on average does it take the firm to collect its accounts receivable?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Days in receivables = 365/($367,200/$20,400) = 20.28 days

Jennifer Has Annual Sales of $367,200 and Cost of Goods