Dome Metals has credit sales of $522.000 yearly If Dome offers a 2 percent discount for payment in 10 days what wil the average accounts recevabie balance be? Assume al customers would pay on the last day of the dscount period Usee 360-day ye) Average recavabies balance

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Problem 7-23 Credit policy decision with changing variables (LO7-4)
Dome Metals has credit sales of $522.000 yearly If Dome offers a 2 percent discount for payment in 10 days what w the average
accounts receivabie balance be? Assume all customers would pay on the last day of the discount period (Use e M0-day ye)
Average recevables balance
Transcribed Image Text:Problem 7-23 Credit policy decision with changing variables (LO7-4) Dome Metals has credit sales of $522.000 yearly If Dome offers a 2 percent discount for payment in 10 days what w the average accounts receivabie balance be? Assume all customers would pay on the last day of the discount period (Use e M0-day ye) Average recevables balance
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