Use the Table Below to Answer the Following Questions About

question 62

Multiple Choice

Use the table below to answer the following questions about the Jetton Company.
Monthly Sales for the Jetton Company $$\begin{array} { | l | c | c | c | c | } \hline & \text { January } & \text { February } & \text { March } & \text { April } \\\hline \text { Sales } & 150,000 & 180,000 & 130,000 & 170,000 \\\hline ( \% ) \text { Cash Sales } & 18 \% & 26 \% & 24 \% & 19 \% \\\hline ( \% ) \text { Credit sales received } & & & & \\\text { when due in 30 days. } & 75 \% & 70 \% & 64 \% & 70 \% \\\hline ( \% ) \text { Credit sales received } & 7 \% & 4 \% & 12 \% & 11 \% \\\hline\end{array}$$
-Refer to the Monthly Sales for the Jetton Company.What is the average number of days to collect April sales for the Jetton Company?

• A)31.4 days
• B)27.6 days
• C)23.4 days
• D)19.75 days

---

Definitions:

Full Endorsement

A signature on the back of a negotiable instrument, such as a check, that specifies the person to whom the instrument is to be paid, transferring ownership.

Blank Endorsement

Blank Endorsement is a signature on a financial instrument, such as a check, without designating a payee, making it payable to the bearer.

Drawer

In accounting, the entity (person or organization) that issues or writes a bill of exchange, check, or draft, instructing another entity to pay.

Drawee

Bank that drawer has an account with.