Ayrton Ltd's trading account for the year ended 31 December 2019 was as follows: Sales 220.000 Cost of sales Purchases 140,000 Closing inventory 60.000 80.000 Gross profit 140,000 All sales and purchases were made on credit and at 31 December 2019, average receivables were 22,000 and average payables were 19,000. Which of the following statements is true? Ayrton Ltd's trading account for the year ended 31 December 2019 was as follows: Sales 220.000 Cost of sales Purchases 140,000 Closing inventory 60.000 80.000 Gross profit 140,000 All sales and purchases were made on credit and at 31 December 2019, average receivables were 22,000 and average payables were 19,000. Which of the following statements is true