The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $10,019 Accounts receivable $78,422 Merchandise inventories $68,362 Prepaid expenses $5,700 Accounts payable $16,550 Notes payable $94,638 Other current liabilities $11,100 If net sales for the current year were $603,500, the firm's days' sales uncollected for the year is: (Use 365 days a year.) a. 79.9 days b. 41.3 days c. 69.5 days d. 159.4 days e. 47.4 days

The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $10,019 Accounts receivable $78,422 Merchandise inventories $68,362 Prepaid expenses $5,700 Accounts payable $16,550 Notes payable $94,638 Other current liabilities $11,100 If net sales for the current year were $603,500, the firm's days' sales uncollected for the year is: (Use 365 days a year.) a. 79.9 days b. 41.3 days c. 69.5 days d. 159.4 days e. 47.4 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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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