What is the company average accounts receivable

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1. A large retailer obtains merchandise under the credit terms of 1/20, net 45, but routinely takes 50 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's effective cost of trade credit? Assume 365 days in year for your calculations. Do not round intermediate calculations. Round your answer to two decimal places.

2. Medwig Corporation has a DSO of 19 days. The company averages $9,750 in sales each day (all customers take credit). What is the company's average accounts receivable? Round your answer to the nearest dollar.

Reference no: EM132364394

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