The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms...
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Accounting
The Monster Truck operates several specialty vehicles that provide hot food and beverages for firms that have workers employed in outlying regions. The company has annual sales of $350,500. Cost of goods sold average 48 percent of sales and the profit margin is 5.2 percent. The average accounts receivable balance is $44,700. On average, how long does it take The Hot Truck to collect payment for its services?
a)7.84 days
b)24.17 days
c)46.55 days
d)48.33 days
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