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How much would be the receivables balance

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Question - ABC Corp., whose gross sales amounted to P1.2M, sold on terms of 3/10, net 30. The collections manager estimated that 30% of the customers pay on the 10th day and take discounts; 40% on the 30th day; and the remaining 30% pay, on the average, 40 days after the purchase. If management would toughen on its collection policy and require that all non-discount customers pay on the 30th day, how much would be the receivables balance?

Reference no: EM132978067

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