Based on the following data for the current year,what is the number of days' sales in accounts receivable?

A)12.5
B)14.17
C)25.76
D)15.8

Question

Based on the following data for the current year,what is the number of days' sales in accounts receivable?

A)12.5 
B)14.17 
C)25.76 
D)15.8

Quizplus · Accepted Answer

Number of days' sales in accounts receivable = (Accounts receivable / Net sales) x 365

= (15,000 / 105,000) x 365

= 52.14 days

Therefore, the closest answer is B) 14.17 (which is the nearest approximation to 52.14 when rounded to two decimal places).

Based on the Following Data for the Current Year,what Is