a. What is the days sales outstanding (DSO) for a firm whose sales are $2,920,000 per year

Question:

a. What is the days sales outstanding (DSO) for a firm whose sales are $2,920,000 per year and whose accounts receivable are $312,000?

b. Is it true that if this firm sells on terms of 3/10, net 40, its customers probably all pay on time?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...