Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.
Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...
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Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.)
It takes Blossom
days to collect on its accounts receivable.
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