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The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents Accounts receivable Merchandise inventories Prepaid expenses Accounts payable Notes
The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents Accounts receivable Merchandise inventories Prepaid expenses Accounts payable Notes payable Other current liabilities $ 8,519 70,922 60,862 4,200 $15,050 87,138 9,600 If net sales for the current year were $611,000, the firm's days sales uncollected for the year is: (Use 365 days a year.) Multiple Choice 70.6 days 60.6 days Net
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