A Company Has Net Credit Sales of $2,060,000,a Beginning Balance

question 27

Multiple Choice

A company has net credit sales of $2,060,000,a beginning balance of net receivables of $207,000,and an ending balance of net receivables of $246,000.What is the company's days' sales outstanding? (Round any intermediary calculations to two decimal places and your final answer to the nearest day. )

• A)9 days
• B)37 days
• C)40 days
• D)44 days

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Definitions:

Authorizing

The act of giving legal or formal approval for something or someone to proceed or act in a certain way.

Enforce

To compel obedience to a law, rule, or obligation through the imposition of penalties or other legal mechanisms.

Warranty Liability

Legal obligation of a seller to compensate the buyer for losses caused by defects or failures in the product warranted.

In Blank

Pertains to a document, especially a financial instrument, left partially unfilled or unsigned, allowing for details to be added later.