Samurai Supplies, Inc., sells office supplies and offers credit terms of 2/10, net 30. Based on past experience, 60% of customers take the discount. What is the average collection period for Samurai Supplies, Inc.? a. 19 days b. 18 days c. 24 days d. 26 days
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- Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?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.)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
- ssence of Skunk Fragrances, Ltd., sells 6,900 units of its perfume collection each year at a price per unit of $399. All sales are on credit with terms of 2/30, net 50. The discount is taken by 50 percent of the customers. a.What is the amount of the company’s accounts receivable? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)b.In reaction to sales by its main competitor, Sewage Spray, Essence of Skunk is considering a change in its credit policy to terms of 4/30, net 50 to preserve its market share. Will this change in policy increase or decrease accounts receivable?Blackwell Co. has credit sales of $317,428, costs of goods sold of $151,217, and average accounts receivable of $28,744. How long on average does it take the firm's credit customers to pay for their purchases? Multiple Choice 33.05 days 27.99 days 31.37 days 29.95 days 38.23 daysHelp
- Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $56,000 and $64,000, respectively. Analysis of Spencer's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): Receiving Discount Beyond Discount Period Totals In month of sale In month of following sale 50% 20% 70% 15% 10% 25% Uncollectible accounts, returns, and allowances 5% 100% Determine the estimated cash collected on customers' accounts in June.Essence of Skunk Fragrances, Limited, sells 4,000 units of its perfume collection each i year at a price per unit of $500. All sales are on credit with terms of 2/10, net 30. The discount is taken by 70 percent of the customers. What is the amount of the company's accounts receivable? Multiple Choice $54,794.52 $83,287.67 $49,315.07 $87671.23 $92.054.79Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and June of $245,000 and $280,000, respectively. Analysis of Spencer's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales): Receiving Discount Beyond Discount Period Totals In month of sale 50% 20% 70% In month of following sale 15% 10% 25% Uncollectible accounts, returns, and allowances 5% 100% Determine the estimated cash collected on customers' accounts in June. $Answer
- On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May. total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13.000. What was the amount of credit sales during May? O $52,000. O $32,000. O $47,000. $57,000. O 55,000.Cat Supplies offers terms of 1/10, net 35. The discount is taken by 77 percent of customers. What is the company's average collection period?Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000 What is the average collection period? Select one: O 20.2 days. O 36.5 days. O 56.78 days O 28.3 days ENG 07:59 3238page=11# 38°C Sunny INTL 25/07/2021
