Wade paid $7,000 for an automobile that needed substantial repairs. he worked nights and weekends to restore the car and spent $2,400 on parts for it. he knows that he can sell the car for $13,000, but he is very wealthy and does not need the money. on the other hand, his daughter, who has very little income, needs money to make the down payment on a house.

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments. a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b