16 ACP and Accounts Receivable Dalglish plc sells earnings forecasts for British securities. Its credit terms are
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16 ACP and Accounts Receivable Dalglish plc sells earnings forecasts for British securities. Its credit terms are 2/10, net 30. Based on experience, 65 per cent of all customers will take the discount.
(a) What is the average collection period for Dalglish?
(b) If Dalglish sells 1,200 forecasts every month at a price of £2,200 each, what is its average balance sheet amount in accounts receivable?
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