QUESTION: A restaurant has 100 seats with an average turnover of 2.5, and an average check of $14.75. If the restaurant is open 260 days/year, what is the annual sales revenue? Number of seats Seat turnover/day Average check 100 2.5 $14.75 Estimate annual revenue 260

QUESTION: A restaurant has 100 seats with an average turnover of 2.5, and an average check of $14.75. If the restaurant is open 260 days/year, what is the annual sales revenue? Number of seats Seat turnover/day Average check 100 2.5 $14.75 Estimate annual revenue 260

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 9P: Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were 4,562,500 and...

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Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were 4,562,500 and accounts receivable averaged 437,500. Half of Grunewalds customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewalds nondiscount customers? (Hint: Calculate daily sales based on a 365-day year, calculate the average receivables for discount customers, and then find the DSO for the nondiscount customers.)
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