The following information has been taken or calculated from Fowler's financial statements for the year ended 30 September 20X5: Cash cycle at 30 September 20X5 70 days Inventory turnover six times Year-end trade payables at 30 September 20X5 $230,000 Credit purchases for the year ended 30 September 20X5 $2 million Cost of sales for the year ended 30 September 20X5 $1.8 million What is Fowler's trade receivables collection period as at 30 September 20X5? A 106 days B 89 days C 56 days D 51 days

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information has been taken or calculated from Fowler's financial statements for the year ended

30 September 20X5:

Cash cycle at 30 September 20X5 70 days

Inventory turnover six times

Year-end trade payables at 30 September 20X5 $230,000

Credit purchases for the year ended 30 September 20X5 $2 million

Cost of sales for the year ended 30 September 20X5 $1.8 million

What is Fowler's trade receivables collection period as at 30 September 20X5?

A 106 days

B 89 days

C 56 days

D 51 days

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