Answered: 5. Krackle Kon Inc, had credit sales of…

5. Krackle Kon Inc, had credit sales of S3,500,000 last year and its days sales outstanding was DSO-35 days. What was its average receivables balance, based on a 365-day year?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 3P

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5. Krackle Korn Inc. had credit sales of $3.500.000 last year and its days sales
outstanding was DSO = 35 days. What was its average receivables balance, based on a
365-day year?

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