What is the days sales outstanding

Assignment Help Accounting Basics

Reference no: EM13785698

Snider Industries sells on terms of 3/10, net 30. Total sales for the year are $1,944,000. Thirty percent of the customers pay on the 10th day and take discounts; the other 70% pay, on average, 64 days after their purchases. Assume 365 days in year for your calculations.

a. What is the days sales outstanding? Round your answer to one decimal place.

b. What is the average amount of receivables? Round your answer to the nearest dollar.

c. What would happen to average receivables if Snider toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day? Round your answer to the nearest dollar.

Reference no: EM13785698

Questions Cloud

Describe a remote access control policy : In a two- to three-page essay, design and describe a remote access control policy that details the requirements for establishing secure access between remote offices located in Atlanta, San Francisco, Chicago, and Dallas. In order to communicate b..

Determining the projected monthly sales : Klein Industries manufactures three types of portable air compressors: small, medium, and large, which have unit profits of $20.50, $34.00, and $42.00, respectively. The projected monthly sales are:

Retail strategic planning and operations management model : What is involved in the shopping and purchasing model, including the key stages in the buying process?

Influences include structure-expectations-parenting styles : Family dynamics play a major role in how children develop. These influences include structure, expectations, parenting styles, and involvement. To understand more about how childhood experiences with your family have influenced current identificat..

What is the days sales outstanding : What is the days sales outstanding? Round your answer to one decimal place. What is the average amount of receivables? Round your answer to the nearest dollar.

Hrm issues diversification strategies case nucor corporation : HRM Issues Diversification Strategies Case Nucor Corporation.

Federal reserve in adjusting the discount rate : What are some major differences between the Federal Reserve System and the monetary system in the officials' home country?

Construct a network diagram for the project : Construct a network diagram for the project. Calculate the scheduled completion time.

Distinctive physiological pattern : Women are expected to be kind and attentive to other people's feelings. In North America, when a woman in the workplace doesn't smile when others expect her to, she is likely to:

User Account

All Pages