The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents$10,019?Accounts receivable 78,422?Merchandise inventories 68,362?Prepaid expenses 5700?Accounts payable$16,550?Notes payable 94,638?Other current liabilities 11,100?If net sales for the current year were $603,500, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
A. 159.4 days
B. 79.7 days
C. 41.3 days
D. 47.4 days
E. 69.5 days
Answer: D
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