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What is the average collection period for kyoto joe

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Reference no: EM13281967

Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3.0/10, net 90. Based on experience, 35 percent of all customers will take the discount.

A. What is the average collection period for Kyoto Joe? (Use 365 days a year.)

B. If Kyoto Joe sells 1,020 forecasts every month at a price of $1,700 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

 

Reference no: EM13281967

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