Box Company Reported the Following Data at the End of 20X2

question 66

Multiple Choice

Box Company reported the following data at the end of 20X2: $$\begin{array} { | l | r | } \hline \text { Sales revenue (75\% on credit) } & \$ 300,000 \\\hline \text { Expenses } & 60,000 \\\hline \begin{array} { l } \text { Trade receivables, net at December 31, 19B (a decrease of } \\\$ 4,000 \text { during 19B) }\end{array} & 8,000 \\\hline \text { Total assets } & 200,000 \\\hline \text { Shareholders' equity } & 150,000 \\\hline \text { Assume a 365-day year } & \\\hline\end{array}$$ What was the average number of days to collect receivables during 20X2?

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

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