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20:18 5 points 13. Promo Company sells on terms that allow customers 45 days to...

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Accounting

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20:18 5 points 13. Promo Company sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If the result of the days sales outstanding (DSO) is less than the 45-day credit period, then customers are paying on time. Otherwise, they are paying late. By how many days early or late were customers paying? Use a 365- day year in your calculations and assume that all sales were done on credit. Do not round your intermediate calculations. * O 17.01 days early 18.13 days early 22.38 days late 26.86 days late None of the above

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