Use the information below to answer this question. \(\begin{array}{c|c} \text{Stock} & 11,250 \\ \hline \text{Debtors}...
FINANCIAL
JAMB 2015
Use the information below to answer this question.
\(\begin{array}{c|c}
\text{Stock} & 11,250 \\
\hline
\text{Debtors} & 18,750 \\
\hline
\text{Creditors} & 3,750 \\
\hline
\text{Bank} & 4,000 \\
\hline
\text{Net profit} & 7,500 \\
\hline
\text{Net} & 60,000 \\
\end{array}\)
Determine the debtors collection period
- A. 114 days
- B. 68 days
- C. 37 days
- D. 41 days
Correct Answer: A. 114 days
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *