Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. piedmont industries sells on terms of 2/10 net 30.

Piedmont Industries sells on terms of 2/10 net 30. Total sales for the year are...

80.2K

Verified Solution

Question

Accounting

image
Piedmont Industries sells on terms of 2/10 net 30. Total sales for the year are $1.5 million. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 60 days after their purchases. What would happen to average receivables if Piedmont toughened its collection policy with the result that all non-discount customers paid on the 45th day? Decline by $28,767 Decline by $57,534 Decline by $43,151 O Decline by $19.178

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

Using samples of 194 credit card statements, an auditor found the following: Use Table-A. Sample 1 2 3 4 Number with errors 3 1 6 12 a. Determine...

Statistics
Q

ssume you dissolve 0.235 g of the weak acid benzoic acid, C6H5CO2H, in enough water to...

Chemistry
Q

Passage IV Q No 11 to 14 A thin non conducting ring is placed in...

Physics
Q

Two cells of unequal emf E and E having 2 internal resistance r and r...

Physics
Q

Determine whether the pair of lines is parallel perpendicular or neither 12x 3y 5 4x...

Algebra
Q

What is the main difference between a perpetual inventory system and a periodic inventory system?...

Accounting
Q

You are provided with the following information for Lily Inc. for the month ended June...

Accounting
Q

a. A company orders and receives 10 personal computers for office use for which it...

Accounting
Q

Sala revenue $7,552,900 Coster goods sod Beginving inventory 51,876,600 Rurchases 4.357.300 Goods...

Accounting
Q

The following amounts and costs of platters were available for sale by San Antonio Ceramics...

Accounting
Q

If income tax expense reported on the income statement is $45,000 for 2019 (the first...

Accounting
Q

Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's...

Finance