Question
Essence of Skunk Fragrances, Ltd., sells 7,500 units of its perfume collection each year at a price per unit of $750. All sales are on
Essence of Skunk Fragrances, Ltd., sells 7,500 units of its perfume collection each year at a price per unit of $750. All sales are on credit with terms of 2.5/15, net 90. The discount is taken by 60 percent of the customers. What is the amount of the company's average receivables?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
