Reference no: EM132647618

Edgewood Home Improvement Store reported the following selected items at June 30, 2019 (previous year - 2018 - amounts are also given as needed):

Cash $ 80,000
Accounts Receivable, net:
June 30, 2019 125,00
June 30, 2018 153,000
Accounts Payable 45,000
Cost of Goods Sold 475,000

Merchandise Inventory

June 30, 2019 320,000
June 30, 2018 280,000
Net Credit Sales Revenue 1,200,000
Long-Term Assets 520,000
Long-Term Liabilities 140,000
Other Current Assets 150,000
Other Current Liabilities 130,000
Short-term Investments 200,000

Problem 1: Compute Edgewood's days' sales in receivables for the year ending June 30, 2019. Show your computations.