Answered: Cat Supplies offers terms of 1/15, net…

Cat Supplies offers terms of 1/15, net 40. The discount is taken by 69 percent of customers. What is the company's average collection period? 22.75 days 27.50 days O 16.04 days 21.52 days 25.13 days

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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Question

Cat Supplies offers terms of 1/15, net 40. The discount is taken by 69 percent of customers. What is the company's average collection period?
22.75 days
27.50 days
O 16.04 days
21.52 days
25.13 days

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