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· 1 Months ago

pls provide explanation (Question: 187206.0 )

pls provide detailed explanation

Question:
Kanji Company had sales last year of Rs. 265 million, including cash sales of Rs. 25 million. If its average collection period was 36 days, its ending accounts receivable balance is closest to ____. (Assume a 365-day year.)
Options:
A) Rs. 26.1 million
B) Rs. 23.7 million
C) Rs. 7.4 million
D) Rs. 18.7 million
E)

None of these

Solution:

Ans (b)


Required amount = [(265-25)/365]x36=23.7

Knowledge Expert

· commented

· 1 Months ago

Required amount = [(265-25)/365]x36=23.7
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