Question

Honent Joe Corp reported annual sales of $17,500,000. In the past Honest Joe's customers have paid within an axerage of 35 days, Honest Joe's thanagement is considerng allowing customers to pay in 40 days Honest Joe's average daily sales are______

Answer 1

In this case, the average daily sales for Honest Joe Corp is $500,000.

Step-by-step explanation:

To find the average daily sales, we need to divide the annual sales by the average number of days it takes for customers to pay.

In this case, Honent Joe Corp reported annual sales of $17,500,000 and customers pay within an average of 35 days.

So, we can calculate the average daily sales as:

Average daily sales = Annual sales / Average number of days

= $17,500,000 / 35

= $500,000.

Therefore, the average daily sales for Honest Joe Corp is $500,000