Greene Sisters has a DSO of 15 days. The company's average daily sales are $30,000. Assume there are 365 days in a year. What is the level of its accounts receivable? a. $400,000 b. $222,650 c. $10,950,000 d. $450,000 e. $730,000

Greene Sisters has a DSO of 15 days. The company's average daily sales are $30,000. Assume there are 365 days in a year. What is the level of its accounts receivable? a. $400,000 b. $222,650 c. $10,950,000 d. $450,000 e. $730,000

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

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Question

What is the level of its accounts receivable?

Greene Sisters has a DSO of 15 days. The company's average daily sales are
$30,000. Assume there are 365 days in a year. What is the level of its accounts
receivable?
a. $400,000
b. $222,650
c. $10,950,000
d. $450,000
e. $730,000

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