You have hired a financial consultant to help you develop pro forma financial statements.She projects accounts receivable as "7 days of net sales." The projected information belongs on the ________ and you need information from the ________ to estimate the dollar value.

Question

Quizplus · Accepted Answer

Accounts receivable is a balance sheet item, reflecting the money owed to the company by its customers. To estimate its dollar value based on "7 days of net sales," you need information from the income statement, which records sales and revenues.

You Have Hired a Financial Consultant to Help You Develop