Question
Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and ac- counts receivable averaged $60,000. Half of Fosters customers
Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and ac- counts receivable averaged $60,000. Half of Fosters customers paid on Day 10 and took dis- counts. (a) What are Fosters sales net of cash discounts taken? (b) What is the total dollar fi- nance charge paid by the non-discount-paying customers? (c) What is the average collection period (DSO) for the nondiscount customers?Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and ac- counts receivable averaged $60,000. Half of Fosters customers paid on Day 10 and took dis- counts. (a) What are Fosters sales net of cash discounts taken? (b) What is the total dollar fi- nance charge paid by the non-discount-paying customers? (c) What is the average collection period (DSO) for the nondiscount customers?
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Campaign Finance Reform
Authors: Melissa M. Smith, Glenda C. Williams, Larry Powell, Gary A. Copeland
1st Edition
