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Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/15, net 60. Based on experience, 80 percent of all customers will
Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/15, net 60. Based on experience, 80 percent of all customers will take the discount. What is the average collection period for Kyoto Joe? (Use 365 days a year. Do not round intermediate calculations.) If Kyoto Joe sells 790 forecasts every month at a price of $1, 825 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.)
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