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I dont know what i'm doing wrong. Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 4/15, net 60. Based on
I dont know what i'm doing wrong.
Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 4/15, net 60. Based on experience, 40 percent of all customers will take the discount. a. What is the average collection period for Kyoto Joe? {Use 365 days a year. Do not round intermediate calculations.) Average collection period 24 days b. If Kyoto Joe sells 1,380 forecasts every month at a price of $1,975 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Average balance $ 2150531.51Step by Step Solution
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