The following information was extracted from the financial records of Ross Ltd for the year ended 30 June 2018: $$\begin{array} { l r }
\text { Cash Sales } & \$ 50,000 \
\text { Credit Sales } & 200,000 \
\text { Accounts receivable } & 25,000 \
\text { Cost of Sales } & 130,000
\end{array}$$ If there are 365 trading days per year, calculate for the managing director the number of days that accounts receivable are outstanding at 30 June 2018.
A)86 days.
B)51 days.
C)114 days.
D)46 days.

Question

The following information was extracted from the financial records of Ross Ltd for the year ended 30 June 2018: $$\begin{array} { l r } 
\text { Cash Sales } & \$ 50,000 \
\text { Credit Sales } & 200,000 \
\text { Accounts receivable } & 25,000 \
\text { Cost of Sales } & 130,000
\end{array}$$ If there are 365 trading days per year, calculate for the managing director the number of days that accounts receivable are outstanding at 30 June 2018.
A)86 days.
B)51 days.
C)114 days.
D)46 days.

Quizplus · Accepted Answer

The Answer of The following information was extracted from the financial records of Ross Ltd for the year ended 30 June 2018: $$\begin{array} { l r } 
\text { Cash Sales } & \$ 50,000 \
\text { Credit Sales } & 200,000 \
\text { Accounts receivable } & 25,000 \
\text { Cost of Sales } & 130,000
\end{array}$$ If there are 365 trading days per year, calculate for the managing director the number of days that accounts receivable are outstanding at 30 June 2018.
A)86 days.
B)51 days.
C)114 days.
D)46 days.

The Following Information Was Extracted from the Financial Records of Ross