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You are watching: The number of days sales uncollected is calculated by

40) The number of days' sales uncollected suggests exactly how much duration of crmodify is permitted to customers for sales. Answer : B 41) Inven…View the complete answer
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Transcribed photo text: 40) The number of days' sales uncollected is offered to: 40) A) Meacertain exactly how many days of sales remajor until the finish of the year B) Determine the number of days that have passed without collecting on accounts receivable ) Estimate how much time is likely to pass before the existing amount of accounts receivable is got in cash. D) Measure the amount of cash sales throughout a period. E) Identify the likelihood of collecting sales on account. 41) A firm had net sales of $21,500 and finishing accounts receivable of $2,700 for the 4) current duration. Its days' sales ungathered equals: (Use 365 days a year.) 45.8 days. A) B) 45.2 days. c) 58.9 day:s. D) 7.4 days. E) 8.0 days. 42) Freemale Co. had actually net sales of $4.2 million and also ending accounts receivable of S0.8 42) million. Its days' sales ungathered equals: A) 69.5 days. B) 5.3 days. C 19.2 days. D) 11.5 days. E) 292 days. 3) Internal regulate steps for cash receipts execute not call for that: 43) A) All collections for sales are received immediately upon making the sales. B) Custody over cash is maintained sepaprice from its recordkeeping. O Cash sales must be recorded on a cash register at the time of each sale. D) An employee via no accessibility to cash receipts have to compare the complete cash tape-recorded by the register via the record of cash receipts reported by the cashier E) Clerks having accessibility to cash in a cash register have to not have actually accessibility to the register tape or file 44) At the end of the day, the cash register tape shows $1,000 in cash sales but the count of 44) cash in the register is S1,010. The appropriate entry to account for this excess is: A) Delittle Cash $1,000; crmodify Sales $1,000. B) Delittle Cash $1,010, crmodify Sales $1,000; credit Cash Over and also Brief $10. C Delittle Cash $1,010; credit Sales $1,010. D) Debit Cash Over and also Short $10; credit Cash $10. E) Delittle bit Cash $1,000; delittle Cash Over and also Brief for $10, credit Sales $1,010 45) Spencer Co. has actually a $200 petty cash money. At the end o the first month the accumulated45 receipts represent $43 for delivery costs, $127 for merchandise inventory, and also $12 for miscellaneous expenses. The money has actually a balance of SI8. The journal entry to document the reimbursement of the account has a A) Delittle to Petty Cash for $200 B) Credit to Inventory for $127 C Debit to Cash Over and also Quick for $18. D) Credit to Cash Over and Quick for $18. E) Crmodify to Cash for $182