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
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
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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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