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What is the average amount of receivables

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Problem - Snider Industries sells on terms of 2/10, net 45. Total sales for the year are $1,500,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases.

a. What is the days sales outstanding?

b. What is the average amount of receivables?

c. What would the new days sales outstanding and average receivables be if Snider toughened its collection policy with the result that all nondiscount customers paid on the 45th day?

Reference no: EM132729461

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