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Kanji Company had sales last year of Rs. 265 million, including-(Answered)

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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.)

a) Rs. 26.1 million

b) Rs. 23.7 million

c) Rs. 7.4 million

d) Rs. 18.7 million

 

Paper#9256992 | Written in 27-Jul-2016

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