A company has net credit sales of $950,000,a beginning balance of net receivables of $71,000,and an ending balance of net receivables of $95,000.Its days' sales outstanding is: (Round any intermediary calculations to two decimal places and your final answer to the nearest day. )
A)27 days.
B)11 days.
C)32 days.
D)36 days.

Question

Quizplus · Accepted Answer

$950,000 ÷ 365 = $2,602.74 average daily sales
($71,000 + $95,000)÷ 2 =$ 83,000
$83,000 ÷ $2,602.74 = 32 days

A Company Has Net Credit Sales of $950,000,a Beginning Balance