Question

The Anthony Company normally takes 30 days to pay for its average daily credit purchases of $2,000. It has average daily sales of $3,000, and collects accounts in 25 days. What is its net credit position

Answer 1

Answer:

The answer is "15000".

Explanation:

Receivable account $=3000\times 25 =75000$

Payable account $= 2000\times 30=60000$

Calculating the net credit position =Receivable account - Payable account  

                                                         $=75000-60000\\\\=15000$