Net income $ 12,500 Profit margin 7.80% Accounts receivable $ 6,700 Percent credit sales 85% What is Firm's...
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Homework Answers
Profit margin=Net income/Sales
Sales=(12500/0.078)=$160256.41
Hence credit sales=0.85*160256.41=$136217.948
Days sales in receivables=(Accounts receivable/Credit sales)*365 days
=(6700/136217.948)*365
=17.95(Approx).
Add Answer to:
Net income
$ 12,500
Profit margin
7.80%
Accounts receivable
$ 6,700
Percent credit sales
85%
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