Calculate the amount of accounts receivable based on sales level of $90,000, net income of $10,000 and an ACP of 54 days.
A)$13,500
B)$1,667
C)$1,500
D)None of the above.

Name: Calculate the amount of accounts receivable based on sales level of $90,000, net income of $10,000 and an ACP of 54 days. A)$13,500 B)$1,667 C)$1,500 D)None of the above.
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Question

Calculate the amount of accounts receivable based on sales level of $90,000, net income of $10,000 and an ACP of 54 days.
A)​$13,500
B)​$1,667
C)​$1,500
D)​None of the above.

Quizplus · Accepted Answer

The amount of accounts receivable can be calculated using the formula: (Sales / 365 days) * ACP. Here, ($90,000 / 365) * 54 = $13,500.

Calculate the Amount of Accounts Receivable Based on Sales Level