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Better You's patients are: 50% commercial Insurance 35% Medicare 5% Medicaid 10% self payment/ out of pocket. Self pay patients pay at the time of
Better You's patients are:
50% commercial Insurance
35% Medicare
5% Medicaid
10% self payment/ out of pocket.
Self pay patients pay at the time of service (in 0 days). Commercial Insurance pays in 30 days. Medicare pays in 60 days and Medicaid pays in 100 days.
Better You's Sales annual sales are $3,000,000 and occur pretty evenly throughout the year. Assume a 360 day year.
Better You's annual carrying cost of Accounts Receivable is 8%.
What is Better You's annnual Accounts Receivable carrying cost expense?
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