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Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year
Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 Cash $ 38,700 $ 33,450 Short-term investments 102,000 66,000 Accounts receivable, net 91,500 85,500 Merchandise inventory 127,000 131,000 Prepaid expenses 13,300 10,900 Plant assets 394,000 344,000 Accounts payable 107,400 113,800 Net sales 717,000 682,000 Cost of goods sold 396,000 381,000
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