Oman chromite company LLC had sales last year of OMR 500,000, including cash sales of OMR 208,000. If its average collection period was 120 days, its opening accounts receivable is OMR 100,000, the closing accounts receivable is closest to ____________.(Assume a 365 days year.) a. OMR 192,000 b. OMR 96,000 c. OMR 98,000 d. OMR 92,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
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Oman chromite company LLC had sales last year of OMR 500,000, including cash sales of OMR 208,000. If its average collection period was 120 days, its opening accounts receivable is OMR 100,000, the closing accounts receivable is closest to ____________.(Assume a 365 days year.)
a.
OMR 192,000
b.
OMR 96,000
c.
OMR 98,000
d.
OMR 92,000
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