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Norton Company Has the Following Assets on January 1, 2017

Question 31

Multiple Choice

Norton Company has the following assets on January 1, 2017 and January 1, 2016.
1/1/171/1/16 Cash $430,000$370,000 Accounts receivables ?333,000 Marketable securities 186,000130,000 Irventory 220,000? Net plant and equipment 120,000129,000\begin{array} { l r r r } & 1 / 1 / 17 & 1 / 1 / 16 \\\hline \text { Cash } & \$ 430,000 & \$ 370,000 \\\text { Accounts receivables } & ? & 333,000 \\\text { Marketable securities } & 186,000 & 130,000 \\\text { Irventory } & 220,000 & ? \\\text { Net plant and equipment } & 120,000 & 129,000\end{array}
If Norton's quick ratio is 2.50 for 2017 and its current liabilities are $500,000, what is the amount of its accounts receivables?


A) $324,000
B) $204,000
C) $634,000
D) There is not enough information to answer this question.

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