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What is the current receivables balance

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The Holland sofa company sells on terms of 3/10, net 30. Gross sales for the year are $1.2 million and the collection department estimates that 30 percent of customers pay on the 10th day and take discounts; 40 percent pay on the 30th day; and the remaining 30 percent pay; on average, 40 days after the purchase. Assume 365 days per year.

What is the DSO? What is the current receivables balance?

Reference no: EM13912520

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