3. Accounts receivable Aa Aa Effective credit management involves establishing credit standards for extending credit to customers, determining the company's terms of credit, and setting up procedures for invoicing and collecting past-due accounts. The following statement refers to a credit management policy. Select the best term to complete the sentence. The minimum financial strength a customer must have to be granted credit is indicated by the company's collection policy credit terms credit standards tumsmaen trTe case Western Gas & Electric Co Western Gas & Electric Co.'s CFO has decided to take a closer look at the company's credit policy. Western Gas & Electric Co. has annual sales of $379.3 million, and it currently has an accounts receivable balance of $46.3 million. The first step in analyzing the firm's credit policy is to determine its days sales outstanding (Dso). Based on this information, Western Gas & Electric Co.'s DSO is (Note: Use 365 days as the length of a year in all calculations The average Dso for Western Gas & Electric Co.'s industry is 51.2 days. Assuming that its sales stayed the same, what would be Western Gas & Electric Co.'s receivables balance if it maintained the industry average D