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Apple sells on the terms of 2/10, net 40. Total sales for the year are $150 million. 30% of the customers pay on the 10th

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Apple sells on the terms of 2/10, net 40. Total sales for the year are $150 million. 30% of the customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. a) What is the days sales outstanding? b) What is the average amount of receivables? c) What would happen to the average receivables if Apple tightened its collection policy with the result that all non-discount customers paid on the 40th day

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