Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. ingraham inc. currently has $570,000 in accounts r

Ingraham Inc. currently has $570,000 in accounts receivable, and its days sales outstanding (DSO) is...

50.1K

Verified Solution

Question

Finance

Ingraham Inc. currently has $570,000 in accounts receivable, and its days sales outstanding (DSO) is 49 days. It wants to reduce its DSO to 20 days by pressuring more of its customers to pay their bills on time. If this policy is adopted, the company's average sales will fall by 5%. What will be the level of accounts receivable following the change? Assume a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Solar central tower plants explain each part of system and advantage , disadvantage please write it word

Mechanical Engineering
Q

oard My courses SC BIOL1000 N Biology I Cells on 7 et red

Biology
Q

(1 points) Draw the arrangement of a phospholipid bi-layer. Label the phosphate end as well...

Biology
Q

How many people were expected by the organizers of Woodstock How many actually attended O...

Biology
Q

2 If one mole of the polyatomic gas is having tw vibrational modes and is...

Physics
Q

33 The refracting angle of a prism is A and refractive index of the material...

Physics
Q

Complete the following probability distribution table X 24 6 79 87 P X 0 23...

Statistics
Q

A manufacturer in Johannesburg operate nonstop for 24 hours A workday is divided into 3...

Algebra
Q

Question: Maredo Leather Company manufactures top quality leather used by Roe and Adler, LLC in...

Accounting
Q

11A-3. On April 15, NATE Corporation announces that it intends to pay $900,000 in dividends...

Accounting
Q

On March 31, Dower Publishing discounted a $48,000 note at a local bank. The note...

Accounting
Q

Matthew, Inc., owns 30 percent of the outstanding stock of Lindman Company and has the...

Accounting