The following information is given to you: Opening Receivables ₹2,35,000; Closing receivables ₹2,89,160; Average monthly sales ₹3,78,000, out of which 20% cash sales. Assuming 360 days in a year, the receivables collecti

CS Executive · Cost and Management Accounting · PYQS · December 2021
The following information is given to you: Opening Receivables ₹2,35,000; Closing receivables ₹2,89,160; Average monthly sales ₹3,78,000, out of which 20% cash sales. Assuming 360 days in a year, the receivables collection period will be :
(A) 20.8 days
(B) 28.69 days
(C) 26 days
(D) 13.85 days

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Financial Statement Analysis

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