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What is the days sales outstanding

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Reference no: EM132285138

Degeorge and Co sell on 3/10, net 25 terms. Total sales $1,081,000 for the year. 30% of customers pay on the 10th day taking the discounts. The remaining 70% pay, on average, 24 days after their purchases. Assume 365/days.

  • What is the days sales outstanding? Round to one decimal
  • What is the average amount of receivables? Round to nearest dollar
  • What would happen to average receivables if DeGeorge and Co toughened up on its collection policy with the result that all nondiscount customers paid on the 25th day? Round to nearest dollar

Reference no: EM132285138

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