Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 $ 39,400 $ 34,150 109,000 95,000 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses 69,500 89,000 130,500 134,500 11,600 397,500 347,500. 14,000 Plant assets Accounts payable 103,900 117,300 720,500 685,500 Net sales Cost of goods sold 399,500 384,500 Multiple Choice 86.8. 46.5. 119.2. Cost of goods sold 399,500 384, 500 Multiple Choice 465 19.2 481 55.2
Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 $ 39,400 $ 34,150 109,000 95,000 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses 69,500 89,000 130,500 134,500 11,600 397,500 347,500. 14,000 Plant assets Accounts payable 103,900 117,300 720,500 685,500 Net sales Cost of goods sold 399,500 384,500 Multiple Choice 86.8. 46.5. 119.2. Cost of goods sold 399,500 384, 500 Multiple Choice 465 19.2 481 55.2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a
year.)
Year 2
Year 1
$ 39,400 $ 34,150
109,000
95,000
Cash
Short-term investments
Accounts receivable, net
Merchandise inventory
Prepaid expenses
69,500
89,000
130,500 134,500
11,600
397,500 347,500.
14,000
Plant assets
Accounts payable
103,900 117,300
720,500 685,500
Net sales
Cost of goods sold
399,500 384,500
Multiple Choice
86.8.
46.5.
119.2.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00c797b1-adbc-4a16-a926-8f8aec6ccc71%2Fe718f365-9f81-4c76-ad6f-50e5cc612e3a%2Fq67fp59_processed.png&w=3840&q=75)
Transcribed Image Text:Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a
year.)
Year 2
Year 1
$ 39,400 $ 34,150
109,000
95,000
Cash
Short-term investments
Accounts receivable, net
Merchandise inventory
Prepaid expenses
69,500
89,000
130,500 134,500
11,600
397,500 347,500.
14,000
Plant assets
Accounts payable
103,900 117,300
720,500 685,500
Net sales
Cost of goods sold
399,500 384,500
Multiple Choice
86.8.
46.5.
119.2.
![Cost of goods sold
399,500 384, 500
Multiple Choice
465
19.2
481
55.2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F00c797b1-adbc-4a16-a926-8f8aec6ccc71%2Fe718f365-9f81-4c76-ad6f-50e5cc612e3a%2Fnrizzoo_processed.png&w=3840&q=75)
Transcribed Image Text:Cost of goods sold
399,500 384, 500
Multiple Choice
465
19.2
481
55.2
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education