Guo Marketing has sales of 430,000, cost of goods sold of 124,000, inventory of 16,000, and accounts recievable of 42,000. How many days, on average, does it take the firm to collect payment frombits customers? 35.7 days 102.4 days 74.7 days 10.2 days 37.4 days

Guo Marketing has sales of 430,000, cost of goods sold of 124,000, inventory of 16,000, and accounts recievable of 42,000. How many days, on average, does it take the firm to collect payment frombits customers? 35.7 days 102.4 days 74.7 days 10.2 days 37.4 days

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Receivables Management

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Guo Marketing has sales of 430, 000, cost of goods sold of 124,000, inventory of 16,000, and accounts
recievable of 42,000. How many days, on average, does it take the firm to collect payment frombits
customers? 35.7 days 102.4 days 74.7 days 10.2 days 37.4 days

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Step 1: Calculates receivable turnover

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Step 2: Calculates the number of sales in accounts receivable

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