Question
Essence of Skunk Fragrances, Ltd., sells 6,200 units of its perfume collection each year at a price per unit of $530. All sales are on
Essence of Skunk Fragrances, Ltd., sells 6,200 units of its perfume collection each year at a price per unit of $530. All sales are on credit with terms of 2/10, net 60. The discount is taken by 55 percent of the customers. |
Calculate the average collection period. (Round your answer to 2 decimal places. (e.g., 32.16)) |
Average collection period | days |
What is the receivables turnover? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 3 decimal places. (e.g., 32.161)) |
Receivables turnover | times |
What is the amount of the companys average receivable? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
Average receivables | $ |
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