Potaw Company Reported the Following Data at the End of 2010

question 117

Multiple Choice

Potaw Company reported the following data at the end of 2010: $$\begin{array} { l r } \text { Sales revenue } ( 75 \% \text { on credit) } & \$ 300,000 \\\text { Expenses } ( 26 \% \text { on credit) } & 60,000 \\\text { Accounts receivable, net at December } 31,2010 \text { (a decrease } & \\\text { of } \$ 4,000 \text { during } 2010 ) & 8,000 \\\text { Total assets } & 200,000 \\\text { Stockholders' equity } & 150,000\end{array}$$ What was the average number of days to collect receivables during 2010?

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

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Definitions:

Polygamy

A marital practice in which a person has more than one spouse simultaneously, not widely legal or socially accepted in many cultures.

Same-sex Cohabiting Relationships

Partnerships between individuals of the same sex who live together in a domestic setting without being legally married.

Cohabiting

The practice of cohabiting and engaging in intimate relations without formal marriage.

Married

A legally or formally recognized union of two people as partners in a personal relationship.