Potaw Company Reported the Following Data at the End of 2014

question 76

Multiple Choice

Potaw Company reported the following data at the end of 2014: $\begin{array}{lr}\text { Sales revenue ( } 75 \% \text { on credit) }&\$300,000\\\text { Expenses ( } 26 \% \text { on credit) }&60,000\\\text { Accounts receivable, net at December } 31,2014 \text { (a decrease }\\\text { of } \$ 4,000 \text { during 2014) } & 8,000 \\\text { Total assets } & 200,000 \\\text { Stockholders' equity } & 150,000\end{array}$ The average number of days to collect receivables during 2014 is closest to:

• A) 16.2.
• B) 14.3.
• C)36.5.
• D)21.9.

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Definitions:

Appeal to the Mob Fallacy

A logical fallacy that argues a position is true or correct because many or most people believe it.

Thermodynamics

The branch of physics that deals with the relationships between heat and other forms of energy and, by extension, the relationships between all forms of energy.

Logical Strength

The extent to which the premises of an argument support its conclusion, influencing its capacity to persuade or convince logically.