Data from Estrin Corporation's Most Recent Balance Sheet and Income

question 28

Multiple Choice

Data from Estrin Corporation's most recent balance sheet and income statement appear below: $\begin{array}{ll}&\text { This Year } & \text { Last Year } \\\text {Accounts receivable. }&\$ 109,000 & \$ 106,000 \\\text {Inventory. }&\$ 139,000 & \$ 158,000 \\\text {Sales on account. }&\$ 787,000 & \\\text {Cost of goods sold }&\$ 501,000 &\end{array}$ The average sale period for this year is closest to:

• A)101 days
• B)50 days
• C)108 days
• D)45 days

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Definitions:

Tibia

The medial bone of the lower leg; commonly called the shin bone.

Synovial Joints

Flexible connections between bones that are lubricated by synovial fluid, allowing for a wide range of movements.

Fibrous Joint Capsule

A component of a joint surrounded by connective tissue that encloses the ends of bones in a joint, providing stability and strength.

Synovial Joints

Joints that are enclosed in a capsule of connective tissue and contain a lubricating synovial fluid, allowing for smooth movement.