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Han Corp's sales last year were $390,000, and its year-end receivables were $52,500. The firm sells on terms that call for customers to pay 30
Han Corp's sales last year were $390,000, and its year-end receivables were $52,500. The firm sells on terms that call for customers to pay 30 days affer the purchase, but some delay payment beyond Day 30 . On average, how many days late do customers pay? Base your answer on this equation: DSO - Allowed credit period = Average days late, and use a 365-day year when calculating the DSO. Assume all sales to be on credit. Enter answer as a percentage (i.e., 0.10 and 10% would be 10 ). Round to 2 decimal places
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