Use the Following Information for Questions Below
Eugene Enterprise Ltd

question 13

Multiple Choice

Use the following information for questions below
Eugene Enterprise Ltd.revealed the following information for the years ended December 31,2019 and 2020:
$\begin{array}{lrr}&2020&2019\\\hlineCurrent~ Assets&\\Cash&\$ 25,000 & \$ 26,250 \\Accounts ~Receivable&247,500 & 299,000 \\Inventory&1,950,000 & 1,725,000\\Prepaid~ expenses&\underline{4000} &\underline{4000} \\Total~ Current ~Assets&\underline{\$ 2,226,500} & \underline{\$ 2,054,250} \\Current~ Liabilities&\$ 1,400,000 & \$ 1,225,000 \\Net ~Credit~ Sales&\$ 2,400,000 & \$ 2,255,000 \\\end{array}$
Orville Enterprise's credit terms are net 30 days.
-On average Eugene Enterprise has been collecting its accounts receivable

• A)within the 30 days required by its credit terms.
• B)after the 30 days has passed.
• C)within the discount period of 10 days.
• D)More information is needed to answer this question.

---

Definitions:

Compound

A substance formed when two or more chemical elements are chemically bonded together, distinguishable from mixtures by chemical formula.

Alkenes

Hydrocarbons containing at least one carbon-carbon double bond, playing a crucial role in organic chemistry and industrial applications.

Molecular Formula

A notation showing the type and number of atoms in a molecule but not the bonds or structure.

IUPAC Name

The approach advised by the International Union of Pure and Applied Chemistry for the orderly naming of chemical compounds.