Question

Company has a debtors turnover ratio of 3
times and its total sales are Rs.21 lakhs and
total cost is Rs. 12 lakhs, find the amount of
receivables​

Answer 1

Answer:

9lakh is the receivables amount

Answer 2

Explanation:

the total turnover is 21 lakhs

debtor turnover ratio is 3

turnover /debtors opening and closing/2 =3

as we can assume the opening and closing is same

then 21/debtor=3

debtor =21/3

=7

total receivable is 7 lacs

please confirm

thank you