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Accounts receivable days outstanding

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Sellograph Corporation reports sales of $10M for Year 2, with a gross profit margin of 40%. 20% of Sellograph's sales are on credit. (assume 360 day year)
Year 1 Year 2
Accounts receivable Y1-$ 150,000 Y2-$ 200,000
Inventory Y1-900,000 Y2-1,000,000
Accounts payable Y1-1,100,000 Y2-1,200,000

What is the accounts receivable days outstanding at the end of Year 2

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Solution Summary

Response provides guidance regarding computation of accounts receivable days outstanding

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Accounts receivable days outstanding = Average Receivables/Daily Credit ...

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