20:18 5 points 13. Promo Company sells on terms that allow customers 45 days to...
60.1K
Verified Solution
Link Copied!
Question
Accounting
20:18 5 points 13. Promo Company sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If the result of the days sales outstanding (DSO) is less than the 45-day credit period, then customers are paying on time. Otherwise, they are paying late. By how many days early or late were customers paying? Use a 365- day year in your calculations and assume that all sales were done on credit. Do not round your intermediate calculations. * O 17.01 days early 18.13 days early 22.38 days late 26.86 days late None of the above
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
