Accounts - Principles of Accounts
JAMB 2015
Use the information below to answer this question.
\(\begin{array}{c|c}
\text{Stock} & 11,250 \\
\hline
\text{Debtors} & 18,750 \\
\hline
\text{Creditors} & 3,750 \\
\hline
\text{Bank} & 4,000 \\
\hline
\text{Net profit} & 7,500 \\
\hline
\text{Net} & 60,000 \\
\end{array}\)
Determine the debtors collection period
-
A.
114 days
-
B.
68 days
-
C.
37 days
-
D.
41 days
Correct Answer: Option A
Explanation
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