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What would happen to average receivables

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Question - Harry Potter Company sells on terms of 2/ 1 0. net 30. Total sales for the year are $3,000,000. 40 percent of the customers pay on the 10th day and take the discounts; the other 60 percent pay, on average, 45 days after their purchases. Assume 360 days per year:

Required -

1. What is the days sales outstanding?

2. What is the average amount of receivables?

3. What would happen to average receivables if DanNin enforced its collection policy with the result that all non-discount customers pay on the 30th day?

Reference no: EM133173853

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