The following balance sheet information was provided by Western Company:
Assuming Year 2 net credit sales totaled $270,000,what was the company's average days to collect receivables? (Use 365 days in a year.Do not round your intermediate calculations. )
Definitions:
Topping Out Effect
Refers to a situation where growth or improvement reaches a maximum level and no significant advancement seems possible.
Profit-Sharing Programs
A company policy where a portion of the company's profits is distributed to its employees, often based on their performance or as an incentive.
Organizational Performance
The measure of how effectively an organization meets its objectives and achieves its goals.
Profit-Sharing Program
A company program in which employees receive a portion of the company’s profits, typically as a part of their compensation package, to motivate and reward them for their contribution to the company's success.
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