Ask Question
11 March, 19:56

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.

+1
Answers (1)
  1. 11 March, 21:49
    0
    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
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales $4,250,000 Accounts receivable: Beginning of ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers