Question: ? _ _ M c E w a n I n d u s t r i e s s e l l s o

?__McEwanIndustriessellsontermsof3/10,net40.Totalsalesfortheyearare$1,257,000;40%ofthecustomerspayonthe10thdayandtakediscounts,whiletheother60%pay,onaverage,50daysaftertheirpurchases.Assume365daysinyearforyourcalculations.

Whatisthedayssalesoutstanding?Roundyouranswertotwodecimalplaces.

days

Whatistheaverageamountofreceivables?Roundyouranswertothenearestcent.Donotroundintermediatecalculations.

Whatisthepercentagecostoftradecredittocustomerswhotakethediscount?Roundyouranswerstotwodecimalplaces.

Whatisthepercentagecostoftradecredittocustomerswhodonottakethediscountandpayin50days?Roundyouranswerstotwodecimalplaces.Donotroundintermediatecalculations.

Nominalcost:

Effectivecost:

WhatwouldhappentoMcEwansaccountsreceivableifittougheneduponitscollectionpolicywiththeresultthatallnondiscountcustomerspaidonthe40thday?Roundyouranswerstotwodecimalplaces.Donotroundintermediatecalculations.

Dayssalesoutstanding(DSO)=

days

Averagereceivables=$___

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