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be credit sales at terms n/30. National estimates that a proposed relaxatio om 30 days to 45 days. Based on a 360-day year, the proposed relaxation o andards will result in an expected increase in the average accounts receivab

be credit sales at terms n/30. National estimates that a proposed relaxatio om 30 days to 45 days. Based on a 360-day year, the proposed relaxation o andards will result in an expected increase in the average accounts receivab

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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National Co.'s budgeted sales for the coming year are P40,500,000 of which 80% are expected to be credit sales at terms n/30. National estimates that a proposed relaxation of credit period from 30 days to 45 days. Based on a 360-day year, the proposed relaxation of credit to standards will result in an expected increase in the average accounts receivable balance of * Format: 1,111,111
Transcribed Image Text:National Co.'s budgeted sales for the coming year are P40,500,000 of which 80% are expected to be credit sales at terms n/30. National estimates that a proposed relaxation of credit period from 30 days to 45 days. Based on a 360-day year, the proposed relaxation of credit to standards will result in an expected increase in the average accounts receivable balance of * Format: 1,111,111
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