What is the average amount of receivables?
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 6P
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Question
13
![National Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five
percent of the customers pay on the tenth day and take discounts; the other 65% pay, on
average, 45 days after their purchases. What is the average amount of receivables? Use 360
days *
Format: 11,111](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F514f4cff-708f-45c9-94a5-5a1e28e43ac2%2Ffda7ddc5-fb0c-424e-8b5e-49427c4cbbdf%2Fr5pxzmo_processed.png&w=3840&q=75)
Transcribed Image Text:National Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five
percent of the customers pay on the tenth day and take discounts; the other 65% pay, on
average, 45 days after their purchases. What is the average amount of receivables? Use 360
days *
Format: 11,111
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