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Accounting

Box Company reported the following data at the end of 2001:

Sales revenue (75% on credit) $300,000
Expenses (26% on credit) 60,000
Accounts Receivable, net at Jan. 1, 2001 12,000
Accounts receivable, net at December 31, 2001 8,000
Total Assets 200,000
Stockholders' equity 150,000
Assume a 365 day year

The average number of days to collect receivables during 2001 was

A) 16.2.

B) 14.3.

C) 36.5.

D) 21.9.

E) None of the above is correct.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436549

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