Question
Joker Corporation makes credit sales of P 2,160,000 per annum. The average age of accounts receivable is 30 days. Management considers shortening credit terms by
Joker Corporation makes credit sales of P 2,160,000 per annum. The average age of accounts receivable is 30 days. Management considers shortening credit terms by 10 days. Cost of money is 18%.
REQUIRED: How much will the company save from financing charges? (Assume 360-day year)
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
14th Edition
1264101597, 9781264101597
