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Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year $584,000 Cost of merchandise sold during the $300,000 year Account receivable, the beginning $45,000 of year Account receivable, end of year $35,000 Inventory, the beginning of year $90,000 Inventory, end of year $110,000 a. 7.3 b. 2.5 c. 14.6 d. 25

Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year $584,000 Cost of merchandise sold during the $300,000 year Account receivable, the beginning $45,000 of year Account receivable, end of year $35,000 Inventory, the beginning of year $90,000 Inventory, end of year $110,000 a. 7.3 b. 2.5 c. 14.6 d. 25

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year $584,000 Cost of merchandise sold during the $300,000 year Account receivable, the beginning $45,000 of year Account receivable, end of year $35,000 Inventory, the beginning of year $90,000 Inventory, end of year $110,000 a. 7.3 b. 2.5 c. 14.6 d. 25
Transcribed Image Text:Based on the following data for the current year, what is the number of days' sales in accounts receivable? Sales on account during the year $584,000 Cost of merchandise sold during the $300,000 year Account receivable, the beginning $45,000 of year Account receivable, end of year $35,000 Inventory, the beginning of year $90,000 Inventory, end of year $110,000 a. 7.3 b. 2.5 c. 14.6 d. 25
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