Problema company has net income of 204100 a profit margin, Ask an Expert

Accounting

Problem:

A company has net income of $204,100, a profit margin of 8.6 percent, and an accounts receivable balance of $163,400.

Requirement:

Assuming 85 percent of sales are on credit, what is the company's days' sales in receivables?

Note: Please explain comprehensively and give step by step solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91170723

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