Question

Formula to calculate credit sales per day from balance sheet

Answer 1

Nice question but not of my level

Answer 2

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How to Calculate Credit Sales Using Accounts Receivableby Isobel Phillips

Most non-retail businesses offer credit terms to their customers, giving them approximately 30 days to pay for goods or services. Accounts receivable represents the total amount owed by all customers at any one time. This is effectively a loan from the company to its customers, and it is important for the company's cash flow to control this amount carefully and collect outstanding receipts as they become due. Accounts receivable is a current asset on the balance sheet.

1. Total all cash received from credit customers during the period. The formula for calculating credit sales is cash received minus receivables at the start of the period, plus receivables at the end of the period. For example, during the year, a company may have received $35,000 from credit customers.

2. Deduct the total accounts receivable at the start of the period from the cash received from customers. For example, at the start of the period, credit customers may have owed the company $10,000. Deduct this amount from the customer receipts amount of $35,000 to get $25,000.

3. Add amounts owed from customers at the end of the period to the previous figure calculated. In our example, accounts receivable at the end of the period totaled $5,000. Add this to the $25,000 calculated in the previous step. The result of $30,000 is the amount billed to credit customers during the period.


(please read it and understand it then create ur own formula which should be similar)