Dyl Pickle Inc

question 59

Multiple Choice

Dyl Pickle Inc.had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 35 days.What was its average receivables balance,based on a 365-day year?

• A)$335,616
• B)$352,397
• C)$370,017
• D)$388,518
• E)$407,944

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Definitions:

Donor

A person who makes a gift.

Mutual Benefit Bailment

A bailment arrangement where both the bailor and the bailee receive a benefit from the transaction involving personal property.

Reasonable Care

The degree of caution and consideration an individual or organization is expected to exercise in a particular situation to avoid harm to others or their property.

Bailment

A legal relationship where physical possession of personal property is transferred from one person to another under the agreement that the property will be returned.