Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 ... Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold $37,500 90,000 85,500 121,000 12,100 388,000 113,400 711,000 390,000 36,850 90,000 86,250 117,000 13,500 392,000 111.750 706,000 385,500 A) 80.0 В) 43.9 c) 42.3 D 46.2
Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 ... Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold $37,500 90,000 85,500 121,000 12,100 388,000 113,400 711,000 390,000 36,850 90,000 86,250 117,000 13,500 392,000 111.750 706,000 385,500 A) 80.0 В) 43.9 c) 42.3 D 46.2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Refer to the following selected financial information from McCormik, LLC. Compute the company's
days' sales uncollected for Year 2. (Use 365 days a year.)
Year 2
Year 1
...
Cash
Short-term investments
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets
Accounts payable
Net sales
Cost of goods sold
$37,500
90,000
85,500
121,000
12,100
388,000
113,400
711,000
390,000
36,850
90,000
86,250
117,000
13,500
392,000
111.750
706,000
385,500
A 80.0
B) 43.9
C) 42.3
D) 46.2
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