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ACP and Accounts Receivable L01] Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/10, net 30. Based on experience, 70

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ACP and Accounts Receivable L01] 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. a. What is the average collection period for the company? b. 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

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