Supreme Corporation's Total Current Assets Are Valued at $35,000 and Are

Multiple Choice

Supreme Corporation's total current assets are valued at $35,000 and are comprised of cash, accounts receivable and inventory. Determine the value of the cash account given the following information: sales = $140,000; cost of goods sold = $120,000; accounts receivable turnover = 17.50 times; inventory turnover = 8 times.

A) $11,000
B) $12,000
C) $13,000
D) $14,000
E) $15,000