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3. ACP and Accounts Receivable [L.O1] Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/10, net 30 . Based on

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3. ACP and Accounts Receivable [L.O1] Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/10, net 30 . Based on experience, 65 percent of all customers will take the discount. a. What is the average collection period for the company? b. If the company sells 980 forecasts every month at a price of $1.670 each, what is its average balance sheet amount in accounts receivable

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