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Kyoto Joe Inc. sells earnings forecasts for Japanese securities . Its credit terms are 2 1 0 , net 3 0 . Based on experience,
Kyoto Joe Inc. sells earnings forecasts for Japanese securities Its credit terms are net Based on experience, of all customers will take the discount.
a What is the average collection period for Kyoto Joe? Use days a year.
Average collection period days
b If Kyoto Joe sells forecasts every month at a price of $ each, what is its average balance sheet amount in accounts receivable? Use days a year. Do not round intermediate calculations. Round the final answer to decimal places. Omit $ sign in your response.
Average balance
$
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