Day's Receivables
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For the last fiscal year, a clinic has patient revenues of $4,235,000 and accounts receivable of $1,225,000. How many days' receivables does this represent?
Please provide:
- Your answer in numerical terms
- Narrative statement that explains how you calculated your answer
- Original example/scenario that demonstrates your understanding and includes your calculations using a separate set of figures:
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Solution Summary
This solution defines the concept of days' receivables and shows how to calculate it for a clinic, given the numbers for patient revenues and accounts receivable.
Solution Preview
Day's Receivables, also known as Days Sales Outstanding, is an efficiency ratio used to calculate how long it takes a ...
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