Solution-What is the average receivables balance

What is the average receivables balance

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Dome Metals has credit sales of $396,000 yearly with credit terms of net 45 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 45 days to pay.

1. What is the average receivables balance? Using a 360 day year.

2. What is the receivables turnover? Using a 360 day year.

Reference no: EM132897479

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What is the average receivables balance

Reference no: EM132897479

Reference no: EM132897479

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