Using the following data from Moontrust Corporation’s financial statements, compute the receivables turnover and the days’ sales uncollected. (Round to one decimal place or to the nearest whole day.)Current assets:Cash …………… $ 70,000Short-term investments …… 170,000Notes receivable ………. 240,000Accounts receivable, net …… 400,000Inventory ………… 500,000Prepaid assets ………. 50,000Total current assets …….. $1,430,000Current liabilities:Notes payable ………. $ 600,000Accounts payable ……… 150,000Accrued liabilities ……… 20,000Total current liabilities ……. $ 770,000Net sales ………….. $3,200,000Last year’s accounts receivable, net … $ 360,000View Solution:
Using the following data from Moontrust Corporation s financial statements compute



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