At year-end stick has cash of $9,000, current accounts receivable of $50,000, merchandise inventory of $21,000, and

Question:

At year-end stick has cash of $9,000, current of $50,000, merchandise inventory of $21,000, and prepaid expenses totaling $5,400. Liabilities of $20,000 must be paid next year. Assume had a beginning balance of $10,000 and net credit sales for the current year totaled $300,000. How many days did it take Stick to collect its average level of receivables?
a. 73
b. 12
c. 61
d. 37
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...