Cima P1 Exam Question No 17

Question No 17:

BC had trade receivables of $242,000 at the start of the year. BC forecasts that the sales revenue for the year will be $1,500,000. All sales are on credit.
Trade receivable days at the end of the year are expected to be 60 days based on a 365 day year.
The expected receipts from customers during the year are closest to:

A. $1,495,425
B. $1,742,000
C. $1,253,425
D. $1,504,575

Answer: A