Maddox Resources has credit sales of $195,000 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 yeor.) a-1. What is the average receivables balance? (Do not round intermediote calculotions. Round the finol answer to neorest whole dollar.) Accounts recelvable balance $ 0-2. What is the recelvables turnover? (Round the final answer to 2 decimal ploces.) Recelvables turnover b. If Maddox offered a 3 percent discount for payment in 10 days and every customer took advantage of the new terms, what would the new average receivables balance be? Use the full sales of $195,000 for your calculation of receivables. (Do not round intermediote calculations. Round the final answer to nearest whole dolior.) New recelvable balance $ c-1. If Maddox reduces its bank loans, which cost 12 percent, by the cash generated from reduced recelvables, what will be the net gain or loss to the firm? Use the full sales of $195,000 for your calculation of receivables. (Negative answers should be indicated by o minus sign. Do not round intermediate colculations. Round the final answer to nearest whole dollor. Omit $ sign in your response.) Netchange $ c-2. Should Maddox Resources offer the discount? Yes No