A-LevelAccountingAnalysis and communication of accounting information9706/12 · May/June 2011 · Q211 Mark
The following data is available at the end of a financial year. opening inventory $60 000 purchases $420 000 closing inventory $80 000 mark up 25% trade receivables turnover 50 days Sales are all on credit and accrue evenly over the year. What is the amount of trade receivables at the end of the year (to the nearest $500)?
A$55 000
B$57 500
C$68 500
D$72 000
✓ Correct answer
C: $68 500
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