8. Accounts receivable 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. How a company handles its credit accounts, including methods of invoicing and collecting past-due accounts, is indicated by the company's Consider the case of Osato Chemicals Inc.: Osato Chemicals Inc. has a very attractive credit policy, and none of its customers pays in cash when the firm makes a sale. Osato Chemicals Inc. sells to its customers on credit terms of 2/10, net 30. If a customer bought $150,000 worth of goods and paid the firm cash eight days after the sale, how much cash would Osato Chemicals Inc. get from the customer? (Note: Round your answer to the nearest whole dollar.) O $157,500 O $147,000 O $135,000 O $120,000 If the customer paid off the account after 15 days, Osato Chemicals Inc. would receive (Note: Round your answer to the nearest whole dollar.) Approximately 20% of Osato Chemicals Inc.'s customers take advantage of the discount and pay on the 10th day. The remaining 80% take an average of 35 days to pay off their accounts. What is Osato Chemicals Inc.'s days sales outstanding (DSO), or the average collection period? (Note: Do not round intermediate calculations. Round your answer to one decimal place.) 28.5 days 30.0 days 25.5 days 31.5 days