Based on the Following Data for the Current Year, Determine

question 3

Multiple Choice

Based on the following data for the current year, determine the days' sales in accounts receivable. ? $\begin{array}{lr}\text { Net sales on account during the year } & \$ 1,080,000 \\\text { Cost of merchandise sold during the year } & 750,000 \\\text { Accounts receivable, beginning of year } & 46,500 \\\text { Accounts receivable, end of year } & 36,500 \\\text { Inventory, beginning of year } & 170,000 \\\text { Inventory, end of year } & 232,000\end{array}$

• A) 14.03
• B) 11.3
• C) 13.79
• D) 12.5

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Definitions:

Written

Something that is expressed or communicated in the form of documentable characters, letters, or symbols.

Performed

Executed or carried out an action or task according to specified procedures or requirements.

Financial Responsibility

Obligation to manage financial resources wisely and fulfill monetary commitments.

Consumer Goods

Products and services that are bought for personal use by individuals.