Deerling Enterprise Ltd. revealed the following information for the years ended December 31, 2019 and 2020: 
Deerling Enterprise's credit terms are net 30 days.
Instructions
a) Calculate Deerling Enterprise's 2020 and 2019 current ratio.
b) Calculate Deerling Enterprise's quick ratio for 2020 and 2019.
c) Calculate Deerling Enterprise's Accounts Receivable turnover ratio for 2020.
d) On the average how long does it take Deerling Enterprise to collect its accounts receivable?
Correct Answer:
Verified
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