a company had net sales of $31,200 and accounts receivable of $3,000 for the current period. its days sales…

a company had net sales of $31,200 and accounts receivable of $3,000 for the current period. its days sales uncollected equals: note: use 365 days a year. multiple choice 46.30 days. 50.40 days. 35.10 days. 10.40 days. 27.10 days.

a company had net sales of $31,200 and accounts receivable of $3,000 for the current period. its days sales uncollected equals: note: use 365 days a year. multiple choice 46.30 days. 50.40 days. 35.10 days. 10.40 days. 27.10 days.

Answer

Explanation:

Step1: Calculate daily sales

Daily sales = $\frac{Net\ sales}{365}=\frac{31200}{365}$

Step2: Calculate days' sales uncollected

Days' sales uncollected = $\frac{Accounts\ receivable}{Daily\ sales}=\frac{3000}{\frac{31200}{365}}=\frac{3000\times365}{31200}\approx 35.10$

Answer:

35.10 days