If the Collection Period of a Company Is 31 Days

question 14

Multiple Choice

If the collection period of a company is 31 days, and the average receivables are $70,060, what is the total amount of the credit sales?

• A) $2,260
• B) $83,126
• C) $824,900
• D) $2,171,860

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Definitions:

Gastric Juice

A digestive fluid, secreted by the stomach, containing hydrochloric acid, digestive enzymes, and intrinsic factor, necessary for the digestion of food and absorption of vitamin B12.

Polypeptide

A chain of amino acids linked by peptide bonds, which can form part of a protein or act as a functional unit on its own.

Protein

Large biomolecules consisting of one or more long chains of amino acid residues, essential for the body's structure and regulation.

Dipeptide

A molecule consisting of two amino acids linked together by a single peptide bond.