WILL UPVOTE! Please post Step by step with Formulas. Note that $167,384 is WRONG. ...
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WILL UPVOTE! Please post Step by step with Formulas. Note that $167,384 is WRONG.
Piedmont Industries sells on terms of 2/10 net 30 . Total sales for the year are $2 million. Thirty percent of customers pay on the 10 th day and take discounts; the other 70% pay, on average, 50 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 35 th day? $150,685 $212,329 $232,877 $164,384
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