Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $520,000....

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $520,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. Assume 365 days in year for your calculations.

What is the days sales outstanding? Round your answer to one decimal place.
What is the average amount of receivables? Round your answer to the nearest dollar. Do not round intermediate calculations.
What would happen to average receivables if Snider toughened its collection policy with the result that all nondiscount customers paid on the 45th day? Round your answer to the nearest dollar. Do not round intermediate calculations.

Expert Solution

jeff jeffy answered 5 months ago

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,770,000....

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,770,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to one decimal place. days What is the average amount of receivables? Round your answer to the nearest dollar. Do not round intermediate calculations....

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,360,000....

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,360,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. Assume 365 days in year for your calculations. What is the average amount of receivables? Round your answer to the nearest dollar. Do not round intermediate calculations. $ What would happen to average receivables if Snider toughened its collection policy with...

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,800,000....

Snider Industries sells on terms of 3/10, net 45. Total sales for the year are $1,800,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days after their purchases. Assume 365 days in year for your calculations.

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Snider Industries sells on terms of 3/10, net 35. Total sales for the year are $910,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 40 days after their purchases. Assume 365 days in year for your calculations. a. What is the days sales outstanding? Round your answer to one decimal place. b. What is the average amount of receivables? Round your answer to the nearest dollar. Do not round intermediate...

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Receivables Investment Snider Industries sells on terms of 3/10, net 25. Total sales for the year are $1,840,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 30 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to one decimal place. days What is the average amount of receivables? Round your answer to the nearest dollar. Do not round...

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Snider Industries sells on terms of 3/10, net 35. Total sales for the year are $680,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 40 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to one decimal place. daysWhat is the average amount of receivables? Round your answer to the nearest dollar. Do not round intermediate calculations. $What...

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Problem 16-06 Receivables Investment Snider Industries sells on terms of 3/10, net 25. Total sales for the year are $1,160,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 30 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to one decimal place. days What is the average amount of receivables? Round your answer to the nearest dollar. Do...

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