A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food inventory turnover ratio is 16, and its average collection period is 45 days. assume a year has 360 days.
given: cash $150,000
accrued expenses $100,000
please find out:
1. account receivable
2. food inventory
3. total current assets
4. account payable
5. total current liabilities