Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company has $450,000 of accounts receivable that represent 43 days of sales outstanding. The company wants to reduce its days of sales outstanding to
A company has $450,000 of accounts receivable that represent 43 days of sales outstanding. The company wants to reduce its days of sales outstanding to 30 by pressuring its customers to pay more quickly. The company expects that its efforts will cause sales to decrease by 12%. What will be the amount of the companys accounts receivable after the change?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started