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13 April, 16:23

Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales $4,250,000 Accounts receivable: Beginning of year 600,000 End of year 630,000 Determine the number of days' sales in receivables for the year.

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  1. 13 April, 16:56
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    Average Receivables = (600,000+630,000) / 2=615,000

    Days sales in receivables = Average receivables / average sales per day

    Average sales per day = 4,250,000/365=11,644

    Days in receivables = 615,000/11,644=52.88
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