Question
Asked Jan 25, 2020
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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

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Expert Answer

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Step 1

The formula for daily sales outstanding can be used here to calculate the accounts receivable.

The formula is given below:

Finance homework question answer, step 1, image 1
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Step 2

Substitute 20 for DSO, $10,585,000 for total c...

Finance homework question answer, step 2, image 1
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