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The following balance sheet information was provided by Weston Company: Assets Cash 2014 2013 $3,500 $3,000 Accounts receivable $22,500 $20,500 Inventory $39,000 $45,000 Assuming 2014 net credit sales totaled $135,000, what were the company's average days to collect receivables? A. 58.1 days B. 55.4 days C. 60.8 days D. 116.3 days

The following balance sheet information was provided by Weston Company: Assets Cash 2014 2013 $3,500 $3,000 Accounts receivable $22,500 $20,500 Inventory $39,000 $45,000 Assuming 2014 net credit sales totaled $135,000, what were the company's average days to collect receivables? A. 58.1 days B. 55.4 days C. 60.8 days D. 116.3 days

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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The following balance sheet information was provided by Weston Company: Assets Cash 2014 2013 $3,500 $3,000 Accounts receivable $22,500 $20,500 Inventory $39,000 $45,000 Assuming 2014 net credit sales totaled $135,000, what were the company's average days to collect receivables? A. 58.1 days B. 55.4 days C. 60.8 days D. 116.3 days
Transcribed Image Text:The following balance sheet information was provided by Weston Company: Assets Cash 2014 2013 $3,500 $3,000 Accounts receivable $22,500 $20,500 Inventory $39,000 $45,000 Assuming 2014 net credit sales totaled $135,000, what were the company's average days to collect receivables? A. 58.1 days B. 55.4 days C. 60.8 days D. 116.3 days
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