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 answer 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 answer to 2 decimal places, e.g., 32.16.) Average accounts receivable $
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