If Dome offers a 3 percent discount for payment in 18 days, what will the new average
Question:
If Dome offers a 3 percent discount for payment in 18 days, what will the new average receivables balance be? Use the credit sales of $180,000 for your calculation of receivables.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
Sales360 days Aver...View the full answer
Answered By
Joemar Canciller
I teach mathematics to students because I love to share what I have in this field.
I also want to see the students to love math and be fearless in this field.
I've been tutoring these past 2 years and I would like to continue what I've been doing.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Foundations Of Financial Management
ISBN: 9781260013917
17th Edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
Question Posted:
Students also viewed these Business questions
-
Dome Metals has credit sales of $180,000 yearly with credit terms of net 60 days, which is also the average collection period. Dome offered a 3 percent discount for payment in 18 days, and Dome...
-
Dome Metals has credit sales of $180,000 yearly with credit terms of net 60 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take...
-
Dome Metals had credit sales of $180,000 yearly. Dome offered a 3 percent discount for payment in 18 days. What would the average receivables balance be?
-
b) Salt enhances bioavailability. Taking a weak acid as an example, explain how salt in gastric fluid has better absorption compared to its acid form.
-
In the 1960s, tobacco producers engaged in fierce battles for market share. The major weapon in that war was advertising - advertising that was designed not to attract new smokers, but to lure...
-
Reardan Company established a predetermined fixed overhead cost rate of $29 per unit of product. The company planned to make 7,000 units of product but actually produced only 6,500 units. Actual...
-
Determine the horizontal displacement of joint \(B\). Each A992 steel member has a cross-sectional area of \(400 \mathrm{~mm}^{2}\). 5 kN -2 m- 4 kN C B D A 1.5 m
-
The Turtle Company has prepared the following adjusted trial balance for the year ended December 31, 2007: Required Prepare for 2007 in proper form: (1) An income statement, (2) A retained earnings...
-
Inventory, by Product Category Quantity Per Unit Cost Net Realizable Value Tools: Hammers Saws Screwdrivers Paint products: 1-gallon cans Paint brushes 110 $ 5.40 $5.90 240 10.40 9.40 340 2.40 3.00...
-
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Contains...
-
Table 1.22 gives the values of the function (x) = a sin (bx + c) + d Accurate to two decimals. (a) Find a sinusoidal regression equation for the data. (b) Rewrite the equation with a, b, c, and d...
-
Charming Paper Company sells to the 12 accounts listed here: Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less; 80 percent for account...
-
Find an equation of the tangent to the curve at the point corresponding to the given value of the parameter. x = e t, y t In t 2 ; t = 1
-
Discuss your thoughts on the legal guidelines regarding ethical health issues.
-
Prepare the journal entries to record the following sales transactions in Blue Spruce Corp.'s books. Blue Spruce uses a perpetual inventory system. (List all debit entries before credit entries....
-
Which motivation theory suggests that employees are motivated by a sense of accomplishment and personal growth?
-
In a tug-of-war game on one campus, 15 students pull on a rope at both ends in an effort to displace the central knot to one side or the other. Two students pull with force 198 N each to the right,...
-
Search the websites of corporations whose products you purchase to identify the contents relating to ethics of business and corporate social responsibility. Choose two corporations. Examples of...
-
Cost In January 2013, Cordova Company entered into a contract to acquire a new machine for its factory. The machine, which has a cash price of $215,000, was paid for as follows: Down...
-
Anna, a high school counselor, devised a program that integrates classroom learning with vocational training to help adolescents at risk for school dropouts stay in school and transition to work...
-
What is LIBOR? How does it compare to the U.S. prime rate?
-
What is the danger or concern in floating a Eurobond issue?
-
What is the danger or concern in floating a Eurobond issue?
-
An investor put 60 percent of his money into a risky asset offering a 10 percent return with a standard deviation of return of 8 percent, and he put the balance of his risk-free asset offering 5...
-
Ida Company produces a handcrafted musical Instrument called a gamelan that Is similar to a xylophone. The gamelans are sold for $949. Selected data for the company's operations last year follow:...
-
There is a bonus with the following characteristics: nominal value $98.650.000 annual coupon rate 4.5% term 5 years, tir 6.5% A) Calculate the price of the bond assuming it is zero coupon B)...
Study smarter with the SolutionInn App