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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › please help figure out how to solve this problem
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 6,000,000
Receivables days = receivables/sales x 365 days
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John, thank you so much 🙂
You are welcome 🙂