Herbert Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $656,810 $672,346 Cost of Sales $54,269 $53,251 Sales Revenue $259,368 $212,962 Inventory $35,505 $45,285 Accounts payable $120,483 $129,398 Accounts receivable (Debtors) $59,498 $79,380 Owner's Equity $1,523,999 $1,131,784 Based on the information provided, calculate the Days in Accounts Receivable for 2021, expressed in days to 2 decimal places.
Herbert Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $656,810 $672,346 Cost of Sales $54,269 $53,251 Sales Revenue $259,368 $212,962 Inventory $35,505 $45,285 Accounts payable $120,483 $129,398 Accounts receivable (Debtors) $59,498 $79,380 Owner's Equity $1,523,999 $1,131,784 Based on the information provided, calculate the Days in Accounts Receivable for 2021, expressed in days to 2 decimal places.
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 48P
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Herbert Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020:
|
2021 |
2020 | |
| Profit After Tax | $656,810 | $672,346 |
| Cost of Sales | $54,269 | $53,251 |
| Sales Revenue | $259,368 | $212,962 |
| Inventory | $35,505 | $45,285 |
| Accounts payable | $120,483 | $129,398 |
| $59,498 | $79,380 | |
| Owner's Equity | $1,523,999 | $1,131,784 |
Based on the information provided, calculate the Days in Accounts Receivable for 2021, expressed in days to 2 decimal places.
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