Use the table for the question(s)below.
Luther Enterprises Ltd had sales of $850 million and a cost of goods sold of $500 million in 2016.
A simplified balance sheet for the firm appears below:
-Luther's 'Accounts Receivable' days figure is closest to:
A)39 days.
B)40 days.
C)59 days.
D)42 days.

Question

Use the table for the question(s)below.
Luther Enterprises Ltd had sales of $850 million and a cost of goods sold of $500 million in 2016.
A simplified balance sheet for the firm appears below:  
-Luther's 'Accounts Receivable' days figure is closest to:
A)39 days. 
B)40 days. 
C)59 days. 
D)42 days.

Quizplus · Accepted Answer

The 'Accounts Receivable' days figure is calculated based on the company's sales and receivables data, and the closest figure to the calculated result is 40 days.

Use the Table for the Question(s)below