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Basic Question 2 of 12
On May 15, your firm receives 20 cases of designer pens. On June 30, your firm pays $3,250 for the pens. On July 15, the pens are sold on credit for $10,500. On September 10, your firm collects the receivable in full. If each transaction occurs at the end of the business day, how many days are in the accounts receivable period?
B. 57 days
C. 61 days
D. 72 days
E. 118 days
A. 46 days
B. 57 days
C. 61 days
D. 72 days
E. 118 days
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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes
Learning Outcome Statements
explain the cash conversion cycle and compare issuers' cash conversion cycles
CFA® 2025 Level I Curriculum, Volume 2, Module 4.