Maddox Resources has credit sales of $$199,000$ yearly with credit terms of net $30$ days, which is also the average collection period.Maddox does not offer a discount for early payment, so its customers take the full $30$ days to pay. $($Use $365$ days in a year$)$a$-1.$ What is the average receivables balance? $($Do not round intermediate calculations. Round the final answer to nearest wholedollar.$)$Accounts receivable balancea$-2.$ What is the receivables turnover? $($Round the final answer to $2$ decimal places.$)$Receivables turnoverNew receivable balance$ $1643812\mathrm{.}10$xb$.$ If Maddox offered a $3$ percent discount for payment in $10$ days and every customer took advantage of the new terms, what wouldthe nevw average receivables balance be$?$ Use the full sales of $$199,000$ for your calculation of receivables. $($Do not roundintermediate calculations. Round the final answer to nearest whole dollar.$)$Net ChangeReturn to question$ $10624$c$-1.$ If Maddox reduces its bank loans, which cost $13$ percent, by the cash generated from reduced receivables, what will be the netgain or loss to the firm? Use the full sales of $$199,000$ for your calculation of receivables. $($Negative answers should be indicated by aminus sign. Do not round intermediate calculations. Round the final answer to nearest whole dollar. Omit$ sign in your response.$)$$$6$O