Valley Distributors has a DSO of 25 days and average daily sales of $28,000. Assuming a 365-day year, calculate Valley's accounts receivable balance. Options: a. $700,000 b. $550,000 c. $850,000 d. $10,220,000 e. $450,000

Valley Distributors has a DSO of 25 days and average daily sales of $28,000. Assuming a 365-day year, calculate Valley's accounts receivable balance. Options: a. $700,000 b. $550,000 c. $850,000 d. $10,220,000 e. $450,000

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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Given answer? ?

Valley Distributors has a DSO of 25 days and average daily sales of
$28,000. Assuming a 365-day year, calculate Valley's accounts
receivable balance.
Options:
a. $700,000
b. $550,000
c. $850,000
d. $10,220,000
e. $450,000

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