Answered: ] Greene Sisters has a DSO of 20 days.…

] Greene Sisters has a DSO of 20 days. The company's average daily sales are 20,000 dollars. What is the level of its accounts receivable? Assume there are 365 days in a year.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...

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Need answer the financial accounting question

]
Greene Sisters has a DSO of 20 days. The
company's average daily sales are 20,000
dollars. What is the level of its accounts
receivable? Assume there are 365 days in a year.

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Han Corp's sales last year were $300,000, and its year-end receivables were $49,000. The firm sells on terms that call for customers to pay 30 days after the purchase, but some delay payment beyond Day 30. On average, how many days late do customers pay? Base your answer on this equation: DSO - Allowed credit period = Average days late, and use a 365-day year when calculating the DSO. Assume all sales to be on credit. Do not round your intermediate calculations.
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