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What is the average amount of receivables

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Question - Jolina Industries sells on terms of 3/10, net 30. Total sales for the year are P912,500. Forty percent of customers pay on the 10th day and take discounts: the other 60% pay. On average, 40 days after their purchases.

a. What is the day's sale outstanding?

b. What is the average amount of receivables?

c. What would happen to it accounts receivable if McDowell toughened up on its collection policy with the result that all non discount customers paid on the 30th day?

Reference no: EM133115486

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