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Determine the firm days sales uncollected for the year

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Question - The following information is taken from Reagan Company's December 31 balance sheet:

Cash and cash equivalents $8,419

Accounts receivable 70,422

Merchandise inventories 60,362

Prepaid expenses 4,100

Accounts payable $14,950

Notes payable 86,638

Other current liabilities 9,500

If net sales for the current year were $612,000, determine the firm's days' sales uncollected for the year? (Use 365 days a year.)

a. 60 days

b. 85 days

c. 42 days

d. 154 days

e. 70 days

Reference no: EM132610290

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