Ask Question
15 December, 17:06

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.

+4
Answers (1)
  1. 15 December, 17:27
    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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers