Midway corporation has a DSO of 36 days the company average is 4000 in sales each...
Homework Answers
Days Sales Outstanding = (Accounts Receivable / Total Credit Sales) * Number of Days
= Accounts Receivable / (Total Credit Sales / Number of Days)
= Accounts Receivable / Average Credit Sales
Given, DSO = 36 days, Average Credit Sales = $4000
=> 36 = Accounts Receivable / 4000
=> Accounts Receivable = $144,000
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