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3. Essence of Skunk Fragrances, Ltd., sells 7,900 units of its perfume collection cach year at a price per unit of $385. All sales are

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3. Essence of Skunk Fragrances, Ltd., sells 7,900 units of its perfume collection cach year at a price per unit of $385. All sales are on credit with terms of 1/10, net 40. The discount is taken by 65% of the customers. What is the amount of the company's accounts receivable? In reaction to sales by its main competitor, Sewage Spray, Essence of Skunk is considering a change in its credit policy to terms of 2/10, net 30 to preserve its market share. How will this change in policy affect accounts receivable

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