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Trinity Surgical Supplies, Inc. sells on terms of 2/10, net 30. Gross sales for the year are $1.5 million, and the collections department estimates that 25 percent of the customers pay on the tenth day and take discounts; 50 percent pay on the thirtieth day; and the remaining 25 percent pay, on average, 40 days after the purchase. (Assume 360 days per year.)
a. What is the firm's average collection period?
b. What is the firm's current receivables balance?
c. What would be the firm's new receivables balance if Trinity Surgical toughened up on its collection policy, with the result that all nondiscount customers paid on the 30th day?
d. Suppose that the firm's cost of carrying receivables was 10 percent annually. How much would the toughened credit policy save the firm in annual receivables carrying expense? (Assume that the entire amount of the receivables had to be financed.)
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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