Ingraham inc currently has 500000 in accounts receivable, Ask an Expert

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Ingraham Inc. currently has $500,000 in accounts receivable, and its days sales outstanding (DSO) is 65 days. It wants to reduce its DSO to 35 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 15%. What will be the level of accounts receivable following the change? Assume a 365-day year. Round your answer to the nearest cent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92801913

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