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Piedmont Industries sells on terms of 2/10 net 30. Total sales for the year are $1.5 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 $1.5 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 would happen to average receivables if Piedmont toughened its collection policy with the result that all non-discount customers paid on the 45th day? Decline by $28,767 Decline by $57,534 Decline by $43,151 O Decline by $19.178
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