Effective credit management involves estabsshing 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. accounts: Consider the case of the Sharp Company. The financial managers at the Sharp Company have been monitoring the company's receivables and have compiled the following information: - All sales are on credit. Sharp's current terms are 2/10 net 30. - 20% of Sharp's customers take advantage of the discount. - Payments from its remaining customers are received, on average, in 53 days. - Estimated credt sales are $170,000 million annually. - Variable costs are 82% of gross sales. - Credit evaluation and collection costs are 10% of gross sales. - There are no bad debts to consider in this analysis. Using the preceding information, fil in the blanks in the following analyss: Using the preceding information, fill in the blanks in the following analysis: Information 2/10 net 30 (DSO) for all customers take the discount ( 20%) forgo the discount ( 80%) and Costs ( $ millions) \begin{tabular}{|l|} 45.0 days \\ \hline 44.4 days \\ 39.1 days \\ \hline \end{tabular} nt customers count customers $136.000 s ( 82% of gross sales) $139.40 $0.00 collection costs ( 10% of gross sales) $17.00 formation SO) for all customers ake the discount ( 20% ) orgo the discount (80%) d Costs ( $ millions) customers unt customers $136.000 82% of gross sales) $139.40 $0.00 lection costs ( 10% of gross sales) $17.00 customers of gross sales) on costs ( 10% of gross sales)