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Snider Industries sells on terms of 2/10, net 35. Total sales for the year are $600,000. Thirty percent of customers pay on the 10th day
Snider Industries sells on terms of 2/10, net 35. Total sales for the year are $600,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 40 days after their purchases. Assume a 365-day year.
What is the days sales outstanding? Do not round intermediate calculations. Round your answer to the nearest whole number.
| Answer 1Choose...41 days$50,95931 days$60,678$53,504$45,20539 days24 days |
What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest dollar.
| Answer 2Choose...41 days$50,95931 days$60,678$53,504$45,20539 days24 days |
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