An extract from a business’s Income Statement is given below. The Statement of Financial Position shows that trade receivables total £1,125. Given this information, which of the following is the correct trade receivables collection period (trade receivables days)? Revenue. 9,125 Cost of sales. 5,840 Gross profit. 3,285 a) 125 days b) 45 days c) 30 days d) 70 days
An extract from a business’s Income Statement is given below. The Statement of Financial Position shows that trade receivables total £1,125. Given this information, which of the following is the correct trade receivables collection period (trade receivables days)? Revenue. 9,125 Cost of sales. 5,840 Gross profit. 3,285 a) 125 days b) 45 days c) 30 days d) 70 days
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...
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An extract from a business’s Income Statement is given below. The
Revenue. 9,125
Cost of sales. 5,840
Gross profit. 3,285
a) 125 days
b) 45 days
c) 30 days
d) 70 days
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