Danny Corporation's Total Current Assets Are Valued at $233,000 and Are

Multiple Choice

Danny Corporation's total current assets are valued at $233,000 and are comprised of cash, accounts receivable and inventory. Determine the value of the cash account given the following
Information: sales = $225,000; cost of goods sold = $135,000; accounts receivable turnover = 3
Times; inventory turnover = 1.5 times.

A) $68,000
B) $66,000
C) $64,000
D) $62,000
E) $60,000