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Any expert can help me solve this ques? The firm has credit sales of RM3.5 million last year and the days sales outstanding (DSO) is
Any expert can help me solve this ques?
The firm has credit sales of RM3.5 million last year and the days sales outstanding (DSO) is 35 days. The firm's account receivable's balance (based on 365-day year) is RM Due to better credit policy, the firm is able to reduce the DSO to 28 days. Based on the new DSO, the receivable's balance (based on 365-day year) is RM The amount of cash freed up is RM (Do not include comma in your answer. The final answer has to be round off to 2 decimal points)Step by Step Solution
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