The Turn It Up Corporation Sells on Credit Terms of Net

question 81

Multiple Choice

The Turn It Up Corporation sells on credit terms of net 30.Its accounts are,on average,6 days past due.Annual credit sales are $7 million.What is the company's balance sheet amount in accounts receivable?

• A)$690,411
• B)$723,333
• C)$851,667
• D)$915,407
• E)$923,593

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Definitions:

Meninges

The three layers of protective tissue (dura mater, arachnoid mater, and pia mater) covering the brain and spinal cord.

Arachnoid

A delicate membrane that encloses the brain and spinal cord, situated between the dura mater and pia mater.

Pia

Short for pia mater, it is the delicate innermost membrane enveloping the brain and spinal cord.