Problem 3.19 – Days’ Sales in Receivables Based on Net Income, Profit Margin, and Accounts Receivable
Fundamentals of Corporate Finance
Ross, Westerfield, and Jordan
13th Edition
Determine the company’s days’ sales in receivables given its net income, profit margin, accounts receivable balance, and the percentage of sales on credit. Use a 365-day year for calculations and provide the answer to two decimal places.
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