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Question 4 Given the following information: Days Inventory 35 Days Receivables 20 Days Payables 10 Opening Inventory $40,000 Opening Receivables $20,000 Opening Payables $15,000 Cost

Question 4

Given the following information:

Days Inventory 35

Days Receivables 20

Days Payables 10

Opening Inventory $40,000

Opening Receivables $20,000

Opening Payables $15,000

Cost of Goods Sold (COGS) $450,000

What is the closing accounts receivable balance?

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