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Mamont248 [21]
3 years ago
12

The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 10,319 Accounts

receivable 79,922 Merchandise inventories 69,862 Prepaid expenses 6,000 Accounts payable $ 16,850 Notes payable 96,138 Other current liabilities 11,400 If net credit sales for the current year were $602,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Business
1 answer:
garri49 [273]3 years ago
8 0

Answer:

49 days

Explanation:

Account receivable turnover ratio = Net credit sales / Accounts receivable

Account receivable turnover ratio = $602,000 / $79,922

Account receivable turnover ratio = 7.53

Average collection period = 365/7.53

Average collection period = 48.47277556440903

Average collection period = 49

Thus, firm’s sales uncollected for year is 49 days.

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Answer:

The price of goods needs to be increased.

Explanation:

Excess demand occurs when the quantity demanded is higher than the quantity supplied. This happens when the price of the good is lower than the equilibrium price. This can happen naturally in the market, or can happen if the government imposes a binding price floor.

The best way to solve excess demand is to raise the price, in order to reach equilibrium. Once in equilibrium, the price will coordinate the quantity supplied and the quantity demanded so that they're roughly equal.

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Horizontal merger

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Sometimes employers discover evidence of employee ___ after someone has sued them for discrimination. Employers may try to use t
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Answer:

The answers are,

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3 years ago
What is the effective rate of a $25,000 interest-bearing simple discount 10%, 90-day note?
salantis [7]
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_____
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You own 400 shares of Stock A at a price of $50 per share, 290 shares of Stock B at $75 per share, and 700 shares of Stock C at
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0.67

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