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Forecasted Revenue for 2018 800,000
Forecasted Cost of Goods Sold for 2018 100,000
Inventory Days 9 days
Accounts Receivable Days 10 days
Accounts Receivable for 2017 19,000
Problem 1: Given the data in the above table, calculate the forecasted amount for accounts receivable in 2018 assuming the current period has 365 days. (Round to the closest whole number)
Option 1: 23,513
Option 2: 21,918
Option 3: 19,624
Option 4: 20,651
Financial Statement Analysis and Preparation
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