Jaminda's Holistic Healing Has Sales of $980,000, Cost of Goods

question 8

Multiple Choice

Jaminda's Holistic Healing has sales of $980,000, cost of goods sold of $765,250, and accounts receivable of $88,640.How long on average does it take the firm's customers to pay for their purchases? Assume a 365-day year.

• A)8.63 days
• B)15.5 days
• C)32.56 days
• D)33.01 days
• E)42.56 days

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Definitions:

Employer Contributions

Payments made by an employer on behalf of their employees, typically into pension plans or health insurance.

Voluntary Benefit

Optional, employee-paid benefits offered by employers, allowing employees to tailor benefits packages to their needs.

Child Care Allowance

Financial support provided by an employer or government to help offset the costs of child care for employees or citizens.

Pensions and Savings Plans

Retirement benefit plans sponsored by employers to provide employees with financial security in their retirement years.