ho x Home my.centennialcolleca X CACCT 224 Block UX 3 Connect neducation.com/ext/map/index.html?con conextemal browserslaunchur-https253A%252F%252Fnewconnect meducation.com 252F#/ #5 (Chapter 7) Saved Help Save & Exit Submit Maddox Resources has credit sales of $198.000 yearly with credit terms of net 30 days, which is also the average collection period Maddox does not offer a discount for early payment, so its customers take the full 30 days to pay. (Use 365 days in a year) -1. What is the average receivables balance? (Do not round intermediate calculations. Round the final answer to nearest whole dollar) Accounts receivable balance a-2. What is the receivables turnover? (Round the final answer to 2 decimal places) Receivables turnover b. Maddox offered a 2 percent discount for payment in 10 days and every customer took advantage of the new forms, what would the new average receivables balance be? Use the full sales of $198.000 for your calculation of receivables (Do not round intermediate calculations. Round the final answer to nearest whole dollar New receivable balance c-1. i Maddox reduces its bank loans, which cost 12 percent, by the cash generated from reduced receivables, wat will be the net gain or loss to the firm? Use the use of $190.000 for your calculation of receivables (Negative answers should be indicated by a minus sign. Do not round intermediate calculations. Round the final answer to nearest whole dollar Omit sign in your response) Net Change type here to search S. 2 3 4 5 6 7 8 9 0 R. T Y o P S D F G . J