Using the following data from Kalel Corporation’s financial statements, compute the receivable turnover and the days’ sales uncollected:

Transcribed Image Text:

Current assets Cash $ 35,000 Short-term investments 85,000 Notes receivable 120,000 Accounts receivable, net 100,000 Inventory 250,000 Prepaid assets 25,000 $615,000 Total current assets Current liabilities Notes payable Accounts payable Accrued liabilities Total current liabilities Net sales $150,000 75,000 10,000 $235,000 $800,000 Last period's accounts receivable, net $ 90,000