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Snider Industries sells on terms of 2/10, net 25 . Total sales for the year are $700,000. Thirty percent of customers pay on the 10
Snider Industries sells on terms of 2/10, net 25 . Total sales for the year are $700,000. Thirty percent of customers pay on the 10 thay the other 70% pay, on average, 30 days after their purchases. Assume a 365 -day year. a. What is the days sales outstanding? Do not round intermediate calculations. Round your answer to the nearest whole number. days b. What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest dollar. $ $
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