Question
Dog Food Corp. normally take 5 days to pay for average daily credit purchases of P10,000. Its average daily sales are P20,000, and it collects
Dog Food Corp. normally take 5 days to pay for average daily credit purchases of P10,000. Its average daily sales are P20,000, and it collects accounts in 7 days. Use 360-days. What is its net credit position?
a)100,000
b)90,000
c)(75,000)
d)(80,000)
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Cornerstones of Financial and Managerial Accounting
Authors: Rich Jones, Mowen, Hansen, Heitger
1st Edition
9780538751292, 324787359, 538751290, 978-0324787351
