The following balance sheet information was provided by Western Company: Assuming Year 2 net credit sales totaled $270,000, what was the company's average days to collect receivables? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | }
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18.25 days
B)47.31 days
C)16.22 days
D)20.28 days

Question

The following balance sheet information was provided by Western Company: Assuming Year 2 net credit sales totaled $270,000, what was the company's average days to collect receivables? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18.25 days
B)47.31 days
C)16.22 days
D)20.28 days

Quizplus · Accepted Answer

The Answer of The following balance sheet information was provided by Western Company: Assuming Year 2 net credit sales totaled $270,000, what was the company's average days to collect receivables? (Use 365 days in a year. Do not round your intermediate calculations.) $$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18.25 days
B)47.31 days
C)16.22 days
D)20.28 days

The Following Balance Sheet Information Was Provided by Western Company