40. Calculate opening and closing trade receivables from the following information:

Trade Receivable turnover ratio 4 times; Cost of Revenue from Operations Rs.  3,20,000; Gross profit ratio 20%; Closing trade receivables were Rs.  15,000 more than opening trade receivables; cash revenue from operations being 33 % of credit revenue from operations.

Marks-4, CBSE:2018-19/Main/03/Q-21*

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