What is the average collection period of this financial accounting question? Thornton Analytics, LLC, afinancial research firm,provides earnings forecasts for U.S. stocks. Thecompany's credit terms are 2/15, net 40. Based on pastdata, 65% of all customers take the discount. What is theaverage collection period?

Customers who take the discount: These customers pay within 15 days.Customers who don't take the…

Answered: Thornton Analytics, LLC, a financial…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 9EA: Using the following select financial statement information from Black Water Industries, compute the...

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Thornton Analytics, LLC, a financial research firm, provides earnings forecasts for U.S. stocks. The company's credit terms are 2/15, net 40. Based on past data, 65% of all customers take the discount. What is the average collection period?