Edgewood Home Improvement Store Reported the Following Selected Items at June

question 30

Essay

Edgewood Home Improvement Store reported the following selected items at June 30,2019 (previous year - 2018 - amounts are also given as needed):
$\begin{array}{|l|r|}\hline\text { Cash } & \$ 80,000 \\\hline \text { Accounts Receivable, net: } & \\\text { June } 30,2019 & 125,000 \\\text { June } 30,2018 & 153,000 \\\hline \text { Accounts Payable } & 45,000 \\\hline \text { Cost of Goods Sold } & 475,000 \\\hline \text { Merchandise Inventory } & \\\text { June 30,2019 } & 320,000 \\\text { June 30,2018 } & 280,000\\\hline \text { Net Credit Sales Revenue } & 1,200,000 \\\hline \text { Long-Term Assets } & 520,000 \\\hline \text { Long-Term Liabilities } & 140,000 \\\hline \text { Other Current Assets } & 150,000 \\\hline \text { Other Current Liabilities } & 130,000 \\\hline \text { Short-term Investments } & 200,000\\\hline\end{array}$ Compute Edgewood's days' sales in receivables for the year ending June 30,2019.Show your computations.

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