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

Principles of Accounting Volume 2
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ISBN:9781947172609
Author:OpenStax
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Chapter7: Budgeting
Section: Chapter Questions
Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...
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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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