Jones Company Presents the Following Data for 2010

question 26

Multiple Choice

Jones Company presents the following data for 2010. The days' sales in receivables is

• A) 53.1
• B) 48.2
• C) 43.1
• D) 38.1
• E) none of the answers are correct

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Definitions:

Bad-Check Statute

Laws that penalize individuals who knowingly write checks from a bank account without sufficient funds.

Drawee Bank

The bank upon which a check is drawn, responsible for paying the check amount to the bearer or designated payee.

Drawer

The party who draws a draft, that is, the party who orders that the money be paid.

Payee

The party named in a note or draft to whom payment is to be made.