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Question - Bluebird Ltd has provided the following information from its financial statements for the year ended 30 June 2020.
Sales (all on credit) $2,350,000
Gross pro?t on sales $835,000
Net pro?t $255,000
Cost of sales $1,515,000
Inventory at end of year 2020 $350,000
Inventory at end of year 2019 $220,000
Accounts receivable at end of year 2020 $440,000
Accounts receivable at end of year 2019 $355,000
The company trades 365 days per year. What is Castro's accounts receivable settlement period (in days) for 2020?
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