A company had net sales of $21,500 and ending accounts receivable of $2,700 for the current period. Its days' sales uncollected equals: (Use 365 days a year.)
A) 8.0 days.
B) 58.9 days.
C) 45.8 days.
D) 7.4 days.
E) 45.2 days.
C) 45.8 days.
Explanation: Days Sales Uncollected Ratio = Ending Accounts Receivable/Net Sales * 365
Days Sales Uncollected Ratio = $2,700/$21,500 * 365 = 45.8 days
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