Baxley Brothers has a DSO of 17 days, and its annual sales are $9,125,000. What is...
Baxley Brothers has a DSO of 17 days, and its annual sales are $9,125,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest dollar.
$
Homework Answers
Days sales outstanding=(Accounts receivable/Annual sales)*365 days
17=(Accounts receivable/9,125,000)*365
Accounts receivable=(17*9,125,000)/365
=$425000
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Baxley Brothers has a DSO of 17 days, and its annual sales are
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