The following information is taken from Hogan Company's December 31 balance sheet: If net credit sales and cost of goods sold for the current year were $612,000 and $367,200, respectively, the firm's days' sales uncollected for the year is:
A) 60 days
B) 85 days
C) 42 days
D) 154 days
E) 70 days

Question

The following information is taken from Hogan Company's December 31 balance sheet:  If net credit sales and cost of goods sold for the current year were $612,000 and $367,200, respectively, the firm's days' sales uncollected for the year is:
A) 60 days 
B) 85 days 
C) 42 days 
D) 154 days 
E) 70 days

Quizplus · Accepted Answer

The Answer of The following information is taken from Hogan Company's December 31 balance sheet:  If net credit sales and cost of goods sold for the current year were $612,000 and $367,200, respectively, the firm's days' sales uncollected for the year is:
A) 60 days 
B) 85 days 
C) 42 days 
D) 154 days 
E) 70 days

The Following Information Is Taken from Hogan Company's December 31