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Lemur [1.5K]
3 years ago
6

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

Business
1 answer:
Inga [223]3 years ago
7 0

Answer:the firm's days' sales uncollected for the year= 47.4 days---d

Explanation:

The Days’ Sales Uncollected, a liquidity ratio that gives an idea of  average collection period which is an  estimation for the number of days the amount receivables is expected to be collected.

it depends on the 1) Account receivables and 2) Net sales .

the formulae is given below as

Days sales uncollectible = Account receivables / Net Sales x 365

=( $78,422/$603,500) x 365 =0.12994 x 365= 47.4 days

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In March 2018, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF p
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