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The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 10,419 Accounts receivable 80,422 Merchandise inventories 70,362 Prepaid
The following information is taken from Reagan Company's December 31 balance sheet:
Cash and cash equivalents | $ | 10,419 |
Accounts receivable | 80,422 | |
Merchandise inventories | 70,362 | |
Prepaid expenses | 6,100 | |
Accounts payable | $ | 16,950 |
Notes payable | 96,638 | |
Other current liabilities | 11,500 | |
If net sales for the current year were $601,500, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
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