Chapter 8 Exercises Question 5 (or 7) value 10.00 points Exercise 8-12 Liquid as

Question

Chapter 8 Exercises Question 5 (or 7) value 10.00 points Exercise 8-12 Liquid assets and accounts receivable LO A1 Bargains Co reported annual net sales for 2014 and 2015 of $666,000 and $749,000, $96,000 (e) Complete the below table to calculate the days' sales uncollected at the end of each year (Round your respectively Its of accounts receivable follow December 31, 2014, 563,000, and December 31, 2015, Days Sales Uncollected" answer to 1 decimal place.) Days' Sales Uncollected Choose Numerator: Choose Denominator:x DaysDays' Sales Unce x Days' sales uncollected 2014 2015 days days Hints References Book&Resources; Hint 1 Type here to search

Explanation / Answer

Days sales uncollected = Accounts receivable/year sales *365 Numerator: / Denominator X Days = Days sales uncollected Accounts receivables / Year sales X 365 = Days sales uncollected 2014 63000 / 666000 X 365 = 34.5 Days 2015 96000 / 749000 X 365 = 46.8 Days

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