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Answer (C) is correct . The changes can best be understood by using illustrative numbers. If prior year sales were $1,000, a 20% decline results in current year sales of $800. The formula for days’ sales in receivables can be restated as follows: ? = = = Current Year Prior Year 365 × (AR ÷ $800) = 91.25 365 × (AR ÷ $1,000) = 73 365 × AR = $73,000 365 × AR = $73,000 AR = $200 AR = $200 Thus, there was no change in the balance of accounts receivables.

Answer (A) is incorrect because Sales decreased while days’ sales in receivables proportionally increased; no change in accounts receivable resulted.
Answer (B) is incorrect because The inverse, proportional changes in days’ sales in receivables and sales resulted in no change in the balance of receivables.
Answer (D) is incorrect because The zero net effect on accounts receivable can be determined from the information given.