Get correct answer accounting questions Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Itscredit terms are 3/20, net 40. Based on experience, 70 percent of allcustomers will take the discount.What is the average collection period? (Do not round intermediatecalculations and round your answer to the nearest whole number, e.g.,32.) Average collection period days

Step 1: Define Accounts ReceivableWhen a business sells goods on credit, the sales revenue is…

Answered: Miyagi Data, Inc., sells earnings…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter16: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P

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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/10, net 50. Based on experience, 75 percent of all customers will take the discount. a. What is the average collection period? Average collection period _________________days b. If the company sells 1,380 forecasts every month at a price of $2,480 each, what is its average daily balance sheet amount in accounts receivable? Average accounts receivable ____________
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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/30, net 40. Based on experience, 70 percent of all customers will take the discount. a. What is the average collection period? (Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.) b. If the company sells 1,270 forecasts every month at a price of $2,370 each, what is its average daily balance sheet amount in accounts receivable? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3/20, net 40. Based on experience, 65 percent of all customers will take the discount. a. What is the average collection period? (Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.) b. If the company sells 1,250 forecasts every month at a price of $2,350 each, what is its average daily balance sheet amount in accounts receivable? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. a. Average collection period b. Average accounts receivable) $ 17 days 1,542,575.34
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?
Miagi Data sells ernings forecast for japanese security. General accounting
Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities. Its credit terms are 2/15, net 35. Based on experience, 75 percent of all customers will take the discount. What is the average collection period for the company? If the company sells 2,200 forecasts every month at a price of $900 each, what is its average balance sheet amount in accounts receivable?
Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities. Its credit terms are 3/20, net 40. Based on experience, 70 percent of all customers will take the discount. Assume 365 days per year. What is the average collection period? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. If the company sells 1,370 forecasts every month at a price of $2,470 each, what is its average daily balance sheet amount in accounts receivable? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Include FULL solution. Preferrably in excel.
6. Answer questions A and B
A firm buys on terms of 2/15, net 50. It does not take discounts. It pays 60 days after invoice date. Net pruchses amount to $575,000 per year. What is the dollar amount of total trade credit the firm receives during the year i.e. what are its average account payable?
Kirk Development buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to $750,000 per year. On average, what is the dollar amount of total trade credit (costly + free) the firm receives during the year, i.e., what are its average accounts payable? (Assume a 365-day year, and note that purchases are net of discounts.)

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