Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/15, net 90. Based on experience, 80 percent of all customers will take the discount. What is the average collection period for the company? (Use 365 days a year. Do not round intermediate calculations.) If the company sells 1,240 forecasts every month at a price of $1,850 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1, 234, 567.89.) a. Average collection period? daysb. Average balance?
Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/15, net 90. Based on experience, 80 percent of all customers will take the discount. What is the average collection period for the company? (Use 365 days a year. Do not round intermediate calculations.) If the company sells 1,240 forecasts every month at a price of $1,850 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1, 234, 567.89.) a. Average collection period? daysb. Average balance?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![Kyoto Joe, Inc., sells earnings forecasts for
Japanese securities. Its credit terms are
2/15, net 90. Based on experience, 80
percent of all customers will take the
discount. What is the average collection
period for the company? (Use 365 days a
year. Do not round intermediate
calculations.) If the company sells 1,240
forecasts every month at a price of $1,850
each, what is its average balance sheet
amount in accounts receivable? (Use 365
days a year. Do not round intermediate
calculations and enter your answer in
dollars, not millions of dollars, rounded to 2
decimal places, e.g., 1,234, 567.89.) a.
Average collection period?
daysb. Average balance?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65e30acb-70aa-4793-998e-fbb726b24a32%2Fa6fa4c4e-5e31-449d-ab73-4709dc727f42%2Fy2st58d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Kyoto Joe, Inc., sells earnings forecasts for
Japanese securities. Its credit terms are
2/15, net 90. Based on experience, 80
percent of all customers will take the
discount. What is the average collection
period for the company? (Use 365 days a
year. Do not round intermediate
calculations.) If the company sells 1,240
forecasts every month at a price of $1,850
each, what is its average balance sheet
amount in accounts receivable? (Use 365
days a year. Do not round intermediate
calculations and enter your answer in
dollars, not millions of dollars, rounded to 2
decimal places, e.g., 1,234, 567.89.) a.
Average collection period?
daysb. Average balance?
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