Below are the annual account balances for Summit Athletics as of December 31: Summit Athletics Financial Data Account Accounts Receivable $82,450 Net Sales Year 2 Year 1 $78,600 $1,485,000 $1,320,000 Calculate the number of days sales uncollected for both years. Choose the correct pair of values: A. Year 1: 21.7 days, Year 2: 20.3 days B. Year 1: 20.3 days, Year 2: 21.7 days C. Year 1: 18.5 days, Year 2: 19.8 days D. Year 1: 19.8 days, Year 2: 18.5 days

Below are the annual account balances for Summit Athletics as of December 31: Summit Athletics Financial Data Account Accounts Receivable $82,450 Net Sales Year 2 Year 1 $78,600 $1,485,000 $1,320,000 Calculate the number of days sales uncollected for both years. Choose the correct pair of values: A. Year 1: 21.7 days, Year 2: 20.3 days B. Year 1: 20.3 days, Year 2: 21.7 days C. Year 1: 18.5 days, Year 2: 19.8 days D. Year 1: 19.8 days, Year 2: 18.5 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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