From the following information, find the average collection period: Total sales – ₹ 4,00,000 Debtors – ₹ 40,000 Cash Sales – ₹ 80,000 No. of days in a year – 360 Creditors – ₹ 20,000 Sales returns – ₹ 20,000 Reserve for
CS Executive · Corporate and Management Accounting · PYQS · December 2023
From the following information, find the average collection period: Total sales – ₹ 4,00,000 Debtors – ₹ 40,000 Cash Sales – ₹ 80,000 No. of days in a year – 360 Creditors – ₹ 20,000 Sales returns – ₹ 20,000 Reserve for bad debts – ₹ 7,000 Bills receivable – ₹ 15,000.
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Financial Accounting
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