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- This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.
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- August 24, 2016 at 9:21 pm #334996
The task :
Cherry Ltd sells books over the internet.
Attached is information relating to last year (click to enlarge).
Assuming 365 days in a year,
(d) Calculate the receivables days (to the nearest day) (1 mark)
Cherry Ltd information:
Sales (all on credit) Purchases on credit Operating profit Capital employed Average receivables Average payables $500,000
$200,000
$40,000
$200,000
$30,000
$16,000
Number of books sold 60,000
Number of books returned 1,200 Number of on-time deliveries 58,200 Number of website visits 6,000,000August 25, 2016 at 7:43 am #335073Receivables days = receivables/sales x 365 days
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August 25, 2016 at 3:21 pm #335162John, thank you so much 🙂
August 25, 2016 at 4:10 pm #335180You are welcome 🙂
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