Question
Essence of Skunk Fragrances, Ltd., sells 8,500 units of its perfume collection each year at a price per unit of $610. All sales are on
Essence of Skunk Fragrances, Ltd., sells 8,500 units of its perfume collection each year at a price per unit of $610. All sales are on credit with terms of 1.5/10, net 90. The discount is taken by 50 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 finalanswer to 3 decimal places (e.g., 32.161).) |
Receivables turnover | times |
What is the amount of the companys average accounts receivable?(Do not round intermediate calculations and round your finalanswer to 2 decimal places (e.g., 32.16).) |
Average accounts receivable | $ |
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