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Leyton Lumber Company has sales of $11 million per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $1.43 million. Assume 365 days in year for your calculations. What is Leyton's DSO? Round your answer to two decimal places.  days   What would DSO be if all customers paid on time? Do not round intermediate calculations. Round your answer to two decimal places.  days   How much capital would be released if Leyton could take actions that led to on-time payments? Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000. Do not round intermediate calculations. Round your answer to the nearest cent. $

Leyton Lumber Company has sales of $11 million per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $1.43 million. Assume 365 days in year for your calculations. What is Leyton's DSO? Round your answer to two decimal places.  days   What would DSO be if all customers paid on time? Do not round intermediate calculations. Round your answer to two decimal places.  days   How much capital would be released if Leyton could take actions that led to on-time payments? Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000. Do not round intermediate calculations. Round your answer to the nearest cent. $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Leyton Lumber Company has sales of $11 million per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $1.43 million. Assume 365 days in year for your calculations.

    1. What is Leyton's DSO? Round your answer to two decimal places.
       days

 

    1. What would DSO be if all customers paid on time? Do not round intermediate calculations. Round your answer to two decimal places.
       days

 

  1. How much capital would be released if Leyton could take actions that led to on-time payments? Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000. Do not round intermediate calculations. Round your answer to the nearest cent.
    $  
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