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CTP · Question #630
(Topic 7) A company has average monthly sales of $2,700, of which 5 percent is on a cash basis, with the remaining sold on open account. The company's accounts receivable aging schedule at the end…
The correct answer is D. 41.39. See the full explanation below for the reasoning.
Question
- (Topic 7)
A company has average monthly sales of $2,700, of which 5 percent is on a cash basis, with the remaining sold on open account. The company's accounts receivable aging schedule at the end of March is as follows:
What is the company's DSO?
Options
- A38.06
- B39.32
- C40.06
- D41.39
How the community answered
(26 responses)- A4% (1)
- B15% (4)
- C4% (1)
- D77% (20)
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