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Kyoto Joe, Incorporated, selis earnings forecasts for Japanese securties its ciedit terms are 2/30, net 40 . Based on experience, 70 percent of all customers

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Kyoto Joe, Incorporated, selis earnings forecasts for Japanese securties its ciedit terms are 2/30, net 40 . Based on experience, 70 percent of all customers will take the discount. Assume 365 days per year. a. What is the average collection period? Note: Do not round intermediate calculations ond round your answer to the nearest whole number, e.9, 32 b. If the company sels, 1,270 forecists every month at a price of $2,370 each, what is its average dally balance shicet amount in accounts receivable? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.9. 32.16

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