Question - Based on the following data for the current year, what is the number of days' sales in accounts receivable?
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Net sales on account during year
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$518,008
|
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Cost of merchandise sold during year
|
200,927
|
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Accounts receivable, beginning of year
|
46,977
|
|
Accounts receivable, end of year
|
48,221
|
|
Inventory, beginning of year
|
86,250
|
|
Inventory, end of year
|
110,440
|
78 days
142 days
69 days
34 days