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Financial Statements t: Current Year Preceding Year Balance Sheet: Cash $ 18,000 $ 21,000 Short-term Investments 17,000 21,000 Net Accounts Receivables 58,000 88,000 Merchandise Inventory
Financial Statements t: Current Year Preceding Year Balance Sheet: Cash $ 18,000 $ 21,000 Short-term Investments 17,000 21,000 Net Accounts Receivables 58,000 88,000 Merchandise Inventory 78,000 82,000 18,000 4,000 Prepaid Expenses Total Current Assets 189,000 216,000 Total Current Liabilities 135,000 82,000 Income Statement: Net Credit Sales $ 474,000 Cost of Goods Sold 310,000 Print Done f. Compute the days' sales in receivables for the current year. (Round intermediary calculations to t nearest whole day.) Days' sales in receivables 365 days / Accounts receivable turnover ratio
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