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Net credit sales total $ 1 comma 431 comma 000. Beginning and ending accounts receivable are $ 69 comma 000 and $ 37 comma 000​, respectively. Calculate the​ days' sales outstanding. ​(Round interim calculations to two decimal​ places, XX.XX and the​ days' sales outstanding​ (DSO) up to the next whole​ day.) A. 11 days B. 20 days C. 14 days D. 9 days

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Answer:

The​ days' sales outstanding: C. 14 days

Explanation:

Average Accounts Receivable = (The beginning accounts receivable balance + The ending accounts receivable balance)/2 = ($69,000 + $37,000)/2 = $53,000.

Accounts Receivable Turnover = Net Credit Sales /Average Accounts Receivable = $1,431,000/$53,000 = 27 times

The​ days' sales outstanding = 365/Accounts receivable turnover ratio = 365/27 = 14 days

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