Consider the following data and compute the total sales amount : (i) Closing balance of receivables : ₹30 lakhs (ii) Opening balance of receivables : ₹20 lakhs (iii) Average collection period: 25 days (iv) Credit sales a
CS Executive · Financial and Strategic Management · PYQS · December 2019
Consider the following data and compute the total sales amount : (i) Closing balance of receivables : ₹30 lakhs (ii) Opening balance of receivables : ₹20 lakhs (iii) Average collection period: 25 days (iv) Credit sales are 73% of sales (assume 365 days in a year)
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Financial Management
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