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Kitchen and Laundry and More has annual credit sales of $2,473,701 and cost of goods sold of $1,838,207. The average accounts receivable balance is $56,736. How many days on average does it take the firm to collect its accounts receivable

Answer :

rickyboogs73 rickyboogs73

Today at 12:09 PM

Answer:

32.59 days

Explanation:

DSO = Average receivables / Sales Revenue X 365

= $56,736 / (2,473,701 - 1,838,207) x 365

= $56,736 / (635,494) x 365

= 32.59 days

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