Question
Bargains Co. reported annual net sales for 2014 and 2015 of $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2014,
Bargains Co. reported annual net sales for 2014 and 2015 of $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2014, $65,000; and December 31, 2015, $123,000. |
(a) | Complete the below table to calculate the days' sales uncollected at the end of each year. |
Days' Sales Uncollected Choose Numerator:/Choose Denominator:xDays=Days' Sales UncollectedAccounts receivable/Net salesx365=Days' sales uncollected 2014:$65,000/$730,000x365= _____________days uncollected 2015:$123,000/$1,095,000x365=41.0days I need help figuring out days sales uncollected for 2014. I have calculated as 0.089041096 but the computer states that it is incorrect. Please show you calculations. Thanks. |
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