The following information was extracted from the financial records of Ross Ltd for the year ended 30 June 2023. Cash Sales $1,800,000; Credit Sales $1,200,000; Accounts receivable 360,000; Cost of Sales 312,000. If there are 365 trading days per year, calculate for the managing director the number of days that accounts receivable are outstanding as at 30 June 2023.

Question 8Answer

a.

86 days.

b.

51 days.

c.

114 days.

d.

46 days.