Receivables Investment Medwig Corporation has a DSO of 26 days. The company averages $9,250 in sales...
Receivables Investment
Medwig Corporation has a DSO of 26 days. The company averages $9,250 in sales each day (all customers take credit). What is the company's average accounts receivable? Round your answer to the nearest dollar.
Homework Answers
DSO = (365× Account Receivable)/net credit sales
DSO-26 days
Net credit sales - $9,250 each day means ($9,250×365)
DSO= 365× Account Receivable /net credit sales
26= 365× Account Receivable /($9,250×365)
Account Receivable = (26 × $9,250×365) / 365
Account receivable = $240,500
assuming number of days be 365
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Receivables Investment
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