On what day do the remaining credit customers pay

Assignment Help Accounting Basics
Reference no: EM132698869

Problem - Finology Company's average collection period (DSO) is 37 days, which is only seven days longer than the net 30 terms the company offers credit customers. Fifty percent of Finology's customers pay on average on Day 20, and 30 percent pay on Day 40. On what day do the remaining credit customers pay? Assume Finology has no bad debts.

Reference no: EM132698869

Questions Cloud

Compute the days sales outstanding : Under the new policy, sales will increase to $120,000, and accounts receivable will rise to $30,000. Compute the days sales outstanding
Explain components of multidimensional nursing care : Explain components of multidimensional nursing care for clients with musculoskeletal disorders - Designing a Care Map
Discuss the financial benefits of chatbots : Examine Alexa's skill in ordering drinks from Starbucks. Discuss the financial benefits of chatbots.
Cluster analysis-basic concepts and algorithms : Cluster Analysis: Basic Concepts and Algorithms
On what day do the remaining credit customers pay : Fifty percent of Finology's customers pay on average on Day 20, and 30 percent pay on Day 40. On what day do the remaining credit customers pay
How much should SBR be willing to pay each month : If SBR receives an average of $2,500 in payments per day and its opportunity cost is 18 percent, how much should SBR be willing to pay each month
Why change management is important to erp implementation : Describe why change management is important to ERP implementation? Note: use academic journals to answer please
Strategies for overcoming resistance : Describe why individuals in an organization may resist change and offer at least three strategies for overcoming resistance.
Did they recognize the wide variety of things nurses do : Did they recognize the wide variety of things nurses do? Was there a difference by age or gender of the person answering the question?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How cost hierarchy helpful to roberta in managing business

Cost hierarchy. Roberta, Inc., manufactures elliptical machines for several well-known companies. The machines differ significantly in their complexity.

  The net income reported on the income statement for the

the net income reported on the income statement for the current year was 210000. depreciation recorded on equipment and

  The assets and liabilities of impeccable travel service

The assets and liabilities of Impeccable Travel Service at November 30, 2010, the end of the current year, and its revenue and expenses for the year are listed below.

  What is Tom basis in the stock of the Corporation

Tom creates a C Corporation on 1/1/20 in exchange for 100% of common stock of the Corporation. What is Tom basis in the stock of the Corporation

  In 200 words or more please review a public companys

in 200 words or more please review a public companys financial statements at finance. yahoo.com. comment on each

  Which one would be more sensitive to the business cycle

For each pair of firms, choose the one that you think would be more sensitive to the business cycle. General Autos or General Pharmaceuticals Friendly Airlines or Happy Cinemas

  Calculate mikes net pay check in the space provided

Calculate Mikes net pay check in the space provided below. Prepare journal entries for Mike's pay and the related payroll expenses.

  Assume that mcpherson completed the office and warehouse

mcpherson furniture company started construction of a combonation office and warehouse building for its own use at an

  Area company purchased a delivery van at a cost of 30000

area company purchased a delivery van at a cost of 30000 cash on january 1 2013. the van has an estimated useful life

  Internal rate of return on the investment

The machine would reduce labor and other operating costs by $76,000 per year. The internal rate of return on the investment in the new machine is closest to:

  Adjusted trial balance and other records of leone company

The following calendar year-end information is taken from the December 31, 2015, adjusted trial balance and other records of Leone Company.

  Describe the federal reserve structure and primary functions

Write a 1,050-words paper about The Federal Reserve's structure and functions. Describe the Federal Reserve's structure and primary functions

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd