slojswahj5432 slojswahj5432

13-09-2022
Business

Answered

a company has net income of $195,000, a profit margin of 8.3 percent, and an accounts receivable balance of $134,370. assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables do not hard code values into your calculations

Answer :

Tutorconsortium315 Tutorconsortium315

15-09-2022

The company's days' sales in receivables is 24.33 days.

What are sales?

An exchange of goods or services for money or other assets is known as a sale and involves two or more parties. A sale in the financial markets refers to a contract between a buyer and a seller that details the cost of a security and its delivery in exchange for a predetermined payment.

By definition, "sales" includes all actions taken to market a good or service to a customer or business. But it means so much more in actuality. The process of successfully closing a deal requires a lot of work, from finding prospects to developing relationships with clients to offering them solutions.

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