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Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.).
Refer to the following selected financial information from Texas Electronics. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.). Year 2 Year 1 Cash Short-term investments $ 37,900 $ 32,650 94,000 62,000 Accounts receivable, net 87,500 81,500 Merchandise inventory 123,000 127,000 Prepaid expenses. 12,500 10,100 Plant assets 390,000 340,000 Accounts payable 111,400 109,800 Net sales 713,000 678,000 Cost of goods sold 392,000 377,000
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