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Calculate for the managing director the number of days

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Reference no: EM132528117

The following information was extracted from the financial records of Ross Ltd for the year ended 30 June 2018:

Cash Sales $50,000
Credit Sales $200,000
Average Accounts receivable $25,000
Cost of Sales $30,000

Question 1: If there are 365 trading days per year, calculate for the managing director the number of days that accounts receivable are outstanding at 30 June 2018.

Option a. 86 days

Option b. 55 days

Option c. 51 days

Option d. 46 days

Option e. 114 days

Reference no: EM132528117

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