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Social ScienceBaxley Brothers has a DSO of 20 days, and its annual sales are $10,585,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest dollar
Baxley Brothers has a DSO of 20 days, and its annual sales are $10,585,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest dollar
Expert Answer
The formula for daily sales outstanding can be used here to calculate the accounts receivable.
The formula is given below:
Substitute 20 for DSO, $10,585,000 for total c...
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