Question
Dome Metals has credit sales of $288,000 yearly. Dome offered a 3 percent discount for payment in 18 days. What would the average receivables balance
Dome Metals has credit sales of $288,000 yearly. Dome offered a 3 percent discount for payment in 18 days. What would the average receivables balance be? (Use 360 days in a year. Omit the "$" sign in your response.)
| Average receivables balance | $ |
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Financial Risk Manager Handbook
Authors: Philippe Jorion, Global Association Of Risk Professionals
5th Edition
0470479612, 978-0470479612
