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Refer to the following selected financial information from Texas Electronics. Compute the companys days sales uncollected for Year 2. (Use 365 days a year.) Year
Refer to the following selected financial information from Texas Electronics. Compute the companys days sales uncollected for Year 2. (Use 365 days a year.)
Year 2 | Year 1 | |||||
Cash | $ | 37,800 | $ | 32,550 | ||
Short-term investments | 93,000 | 61,500 | ||||
Accounts receivable, net | 87,000 | 81,000 | ||||
Merchandise inventory | 122,500 | 126,500 | ||||
Prepaid expenses | 12,400 | 10,000 | ||||
Plant assets | 389,500 | 339,500 | ||||
Accounts payable | 111,900 | 109,300 | ||||
Net sales | 712,500 | 677,500 | ||||
Cost of goods sold | 391,500 | 376,500 | ||||
Multiple Choice
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114.2.
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81.1.
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44.6.
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47.6.
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43.0.
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