Han Corp's sales last year were $440,000, and its year-end receivables were $52,500. The firm sells on terms that call for customers to pay 30 days after the purchase, but some delay payment beyond Day 30. On average, how many days late do customers pay? Base your answer on this equation: DSO - Allowed credit period = Average days late, and use a 365-day year when calculating the DSO. Assume all sales to be on credit. Do not round your intermediate calculations.
A. 11.65
B. 12.74
C. 12.33
D. 13.55
E. 15.58
Answer: D
You might also like to view...
The subject of a forwarded message is given the prefix
A) RE: B) FW: C) MS: D) TO:
A shrewd supply chain manager would aggregate only safety inventory and use an inexpensive mode of transportation for replenishing cycle inventory if she is dealing with a
A) high-value product and high demand. B) high-value product and low demand. C) low-value product and high demand. D) low-value product and low demand.
Based on the information in Table 3-1, calculate the amount of dividends paid by Jones Company
in 2010 (no assets were disposed of during the year, and there was no change in interest payable or taxes payable). A) $4,000 B) $2,000 C) $3,500 D) $2,500
An accountant's legal liability is imposed both by the common law at the state level and by securities laws at the federal level
Indicate whether the statement is true or false