Powers Company Reported Net Sales of $1,200,000 and Accounts Receivable

question 19

Multiple Choice

Powers Company reported Net sales of $1,200,000 and Accounts Receivable, net of $78,500. The day's sales uncollected (rounded to whole days) is:

• A)24 days.
• B)15 days.
• C)4 days.
• D)56 days.
• E)48 days.

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Definitions:

Regent Diamond

A highly valuable 141-carat diamond that has a history of ownership among French royalty and is known for its flawless clarity and color.

French Crown Jewel

Precious stones or pieces of jewelry that were part of the French royal regalia, historically symbolizing the monarchy's wealth and power.

Slave

An individual who is legally owned by another person and forced to obey them, deprived of personal freedom.

Sea Captain

A person who is in command of a ship, responsible for its operation, navigation, and the safety of those on board.