The value for average daily credit sales $3287.67.
Credit sales are bills that are not made till numerous days or perhaps weeks after a product has been added. quick-term credit score arrangements appear on a company's balance sheet as bills receivable and vary from bills made at once in coins.
Credit sales score journal access refers back to the magazine entry recorded through the business enterprise in its income magazine whilst the business enterprise makes any sale of the inventory to a 3rd birthday party on credit score. In this situation, the debtor's account or account receivable account is debited with the corresponding credit to the sales account.
Receivables turnover = (Net Credit Sales/Average Accounts Receivable)
15 = x/80,000
x = 80000*15 = 1,200,000
Average daily credit sale = (1,200,000/ 365) = 3287.671233
Average credit sales is $3287.67
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