Question
In: Finance
Jones Company presents the following data for 2012. Receivables, less allowance for losses and discounts of...
Jones Company presents the following data for 2012. Receivables, less allowance for losses and discounts of $12,196$ 266,700 Net Sales2,360,108 Cost of Goods Sold1,580,360 The days' sales in receivables is Question 13 options: a) 38.1. b) 43.1. c) 48.2. d) 40.0. e) 53.1.
Solutions
Expert Solution
Sales = $2360108
Receivables, less allowance for losses and discounts of $12,196$ = 266,700
So, total receivable including losses and discount = 266700 + 12196 = $278896
So, days' sales in receivables = receivables*days in a year/sales = 178896*365/2360108 = 43.1
So, option b is correct.
jeff jeffy answered 2 years agoRelated Solutions
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