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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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