Hayes Company had an average age of accounts receivable of 25 days and net credit sales of $31,000. Assume a 365-day year. What was the amount of the average net receivables?
A) $1,152
B) $2,123
C) $4,000
D) $5,760

Name: Hayes Company had an average age of accounts receivable of 25 days and net credit sales of $31,000. Assume a 365-day year. What was the amount of the average net receivables? A) $1,152 B) $2,123 C) $4,000 D) $5,760
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Question

Quizplus · Accepted Answer

Calculation: $31,000 ÷ (365 ÷ 25) = $2,123.

Hayes Company Had an Average Age of Accounts Receivable of 25