A Company Had $12,000 in Accounts Receivable and $320,000 in Net

question 191

True/False

A company had $12,000 in accounts receivable and $320,000 in net sales for the current period.Its days' sales uncollected is equal to 13.7 days.

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Definitions:

Quantity Extracted

The amount of a resource or good that is removed or harvested from its source over a specific period.

Beginning of Year

The starting point of a calendar year or fiscal year used for accounting and other chronological purposes.

Extract

To remove or take out something, often using effort or force, particularly from a complex mixture or compound.

Firm Represented

Describes a scenario in which a type of business entity is depicted or acted on behalf of, in various contexts.