Problem 2-7 building a balance sheet the following table presents
A company has net income of $198,000, a profit margin of 8.8 percent, and an accounts receivable balance of $137,370. Assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables? (Use 365 days a year. Do not round intermediate calculation and round your final answer to 2 decimal places. (e.g., 32.16))
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