Finney Had the Following Transactions During March 2012

Essay

Finney had the following transactions during March 2012.
1. Finney sold and delivered $14,000 of merchandise to LJ Enterprises, terms 2/10, n30.
2. LJ Enterprises also ordered an additional $5,000 worth of goods on the last day of the month.
3. Finney lent $1,000 to its company president who promised to repay the loan on the 15^th day of the next month.
4. Finney sold old storage sheds to Alt Traders on 3/31. Alt Traders gave a $2,500 promissory note to Finney agreeing to pay for the sheds in 3 months.
5. Other current assets totaled $50,000.
Finney received no cash arising from the above transactions during March. Based only on the above transactions, and ingnoring beginning balances, compute the percentage Accounts Receivable is of the total current assets as of month end.