Use This Information to Answer the Following Questions:
the Financial

question 33

Multiple Choice

Use this information to answer the following questions:
The financial records of Del Ltd reveal the following at 30 June 2012 :
$\begin{array}{lr} & \$ \\ \text { Net sales for year } & 120,000 \\ \text { Cost of goods sold for year } & 90,000 \\ \text { Inventory, 1 July 2011 } & 27,000 \\ \text { Accounts receivable, 1 July } 2011 & 18,300 \\ \text { Inventory 30 June } 2012 & 33,000 \\ \text { Accounts receivable, 30 June 2012 } & 21,700\end{array}$
-If Del Ltd reduces the number of days' sales in receivables to 37.5,what will be the new accounts receivable turnover?

• A) 6 times p.a.
• B) 9.7 times p.a.
• C) 12 times p.a.
• D) 8 times.

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