The financial records of Delta Ltd reveal the following at 30 June 2019: Credit Sales $120,000 Cash Sales $80,000 Cost of goods sold for year $90,000 Average inventory in 2019 $30,000 Average accounts receivable in 2019 $20,000 What was the number of days' sales in receivables? Select one: a. 60 times. b. 36. 5 days. c. 90 days. d. 120 days. e. 60. 8 days.
The financial records of Delta Ltd reveal the following at 30 June 2019: Credit Sales $120,000 Cash Sales $80,000 Cost of goods sold for year $90,000 Average inventory in 2019 $30,000 Average accounts receivable in 2019 $20,000 What was the number of days' sales in receivables? Select one: a. 60 times. b. 36. 5 days. c. 90 days. d. 120 days. e. 60. 8 days.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...
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Question
The financial records of Delta Ltd reveal the following at 30 June 2019:
|
Credit Sales |
$120,000 |
|
Cash Sales |
$80,000 |
|
Cost of goods sold for year |
$90,000 |
|
Average inventory in 2019 |
$30,000 |
|
Average accounts receivable in 2019 |
$20,000 |
What was the number of days' sales in receivables?
Select one:
a.
60 times.
b.
36. 5 days.
c.
90 days.
d.
120 days.
e.
60. 8 days.
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