Pujols Lumber Yard has a current accounts receivable balance of $265,038. Credit sales for the year just ended were $5,307,288. How long did it take on average for credit customers to pay off their accounts during the past year? (E

Pujols Lumber Yard has a current accounts receivable balance of $265,038. Credit sales for the year just ended were $5,307,288. How long did it take on average for credit customers to pay off their accounts during the past year? (E

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
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