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2019 P 40,000 Accounts receivable, net Inventory 40,000 Current assets 120,000 Total assets, net 700,000 Current liabilities 70,000 Cash sales 400,000 Credit sales 120,000 Costs of sales 310,000 20. What should be the age of receivables in 2021? a. 110 days b. 120 days c. 130 days d. None of these 2020 P 42,500 50,000 140,000 750,000 80,000 420,000 125,000 324,000 2021 P 45,000 45,000 130,000 725,000 50,000 450,000 131,250 345,000

2019 P 40,000 Accounts receivable, net Inventory 40,000 Current assets 120,000 Total assets, net 700,000 Current liabilities 70,000 Cash sales 400,000 Credit sales 120,000 Costs of sales 310,000 20. What should be the age of receivables in 2021? a. 110 days b. 120 days c. 130 days d. None of these 2020 P 42,500 50,000 140,000 750,000 80,000 420,000 125,000 324,000 2021 P 45,000 45,000 130,000 725,000 50,000 450,000 131,250 345,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What should be the age of receivables in 2021?

2019 P 40,000 Accounts receivable, net Inventory 40,000 Current assets 120,000 Total assets, net 700,000 Current liabilities 70,000 Cash sales 400,000 Credit sales 120,000 Costs of sales 310,000 20. What should be the age of receivables in 2021? a. 110 days b. 120 days c. 130 days d. None of these 2020 P 42,500 50,000 140,000 750,000 80,000 420,000 125,000 324,000 2021 P 45,000 45,000 130,000 725,000 50,000 450,000 131,250 345,000
Transcribed Image Text:2019 P 40,000 Accounts receivable, net Inventory 40,000 Current assets 120,000 Total assets, net 700,000 Current liabilities 70,000 Cash sales 400,000 Credit sales 120,000 Costs of sales 310,000 20. What should be the age of receivables in 2021? a. 110 days b. 120 days c. 130 days d. None of these 2020 P 42,500 50,000 140,000 750,000 80,000 420,000 125,000 324,000 2021 P 45,000 45,000 130,000 725,000 50,000 450,000 131,250 345,000
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