Senath company’s annual report reveals net credit sales of $240,000 and average accounts receivable of $20,000. the report also shows an average inventory balance of $10,000 and cost of goods of $200,000. based on this information, the number of days to collect accounts receivable is (treat any partial day as a whole day)

number of days to collect accounts receivable is 31

Explanation:

given data

net credit sales = $240,000

average accounts receivable = $20,000

average inventory balance = $10,000

cost of goods = $200,000

to find out

number of days to collect accounts receivable is

solution

we get here first Accounts receivable turnover that is here

Accounts receivable turnover =

Accounts receivable turnover =  12

and

Average number of days to collect receivable is here as

Average number of days to collect =

Average number of days to collect  = 31

so number of days to collect accounts receivable is 31

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