Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Piedmont Industries sells on terms of 2/10 net 30. Total sales for the year are $2.5 million. Thirty percent of customers pay on the 10th

Piedmont Industries sells on terms of 2/10 net 30. Total sales for the year are $2.5 million. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 60 days after their purchases.

What is the days sales outstanding?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Capital Markets Financial Management And Investment Management

Authors: Frank J. Fabozzi, Pamela Peterson Drake

1st Edition

0470407352, 978-0470407356

More Books

Students also viewed these Finance questions

Question

Differentiate. y = (r 2 2r)e r

Answered: 1 week ago