Using the following data from Lopez Corporation’s financial statements, compute the receivable turnover and the days sales uncollected:Current assetsCash ……………. $ 35,000Short-term investments …….. 85,000Notes receivable ………… 120,000Accounts receivable, net …….. 200,000Inventory ………….. 250,000Prepaid assets …………. 25,000Total current assets ………. $715,000Current liabilities Notes payable ………….$ 300,000Accounts payable ……….. 75,000Accrued liabilities ………. 10,000Total current liabilities …….. $385,000Net sales ………….$1,600,000Last year’s accounts receivable, net … $180,000View Solution:
Using the following data from Lopez Corporation s financial stat



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