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

The answer is "15000".

Step-by-step explanation:

Receivable account
`=3000* 25 =75000\\\\`

Payable account
`= 2000* 30=60000\\\\`

Calculating the net credit position =Receivable account - Payable account

`=75000-60000\\\\=15000`