A Company Has Net Credit Sales of $2,000,000,a Beginning Balance

question 45

Multiple Choice

A company has net credit sales of $2,000,000,a beginning balance of net receivables of $202,000,and an ending balance of net receivables of $245,000.What is the company's days' sales in receivables (rounded) ?

• A)9 days
• B)37 days
• C)41 days
• D)48 days

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Definitions:

Laggards

Individuals or groups that are last to adopt an innovation or change, typically resistant to alterations in status quo.

Diffusion of Innovation

A concept aiming to understand the manner, reasoning, and speed at which cultures adopt new innovations and technological advancements.

Early Adopters

Individuals or organizations who use or purchase new products, technologies, or services soon after they are launched, often before the majority of consumers do.

Diffusion of Innovation

The process by which a new idea, product, or behavior spreads through a population over time.