Bret Company - Sales Outstanding
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The Bret Company's total sales for the year were $4,250,000. It sells on
terms of 2/15, net 30. Thirty percent of its customers pay on the fifteenth
day; the other 70 percent pay, on average, in 52 days.
a) What's the firm's days sales outstanding?
b) What's the firm's average amount of receivables?
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Computations for the sales outstanding are shown in the solution.
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a) What's the firm's days sales outstanding?
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