3. ACP and Accounts Receivable. Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/10, net 30. Based on experience, 70 percent of all customers will take the discount.

1. What is the average collection period for the company?
2. If the company sells 1,120 forecasts every month at a price of $1,580 each, what is its average balance sheet amount in accounts receivable?

4. Size of Accounts Receivable. Skye Flyer, Inc., has weekly credit sales of $21,900, and the average collection period is 33 days. What is the average accounts receivable figure?