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Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities . Its credit terms are 2 1 0 , net 3 0 . Based on experience,
Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities Its credit terms are net Based on experience, percent of all customers will take the discount.
a What is the average collection period for the company? Use days a year. Do not round intermediate calculations.
b If the company 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 and round your answer to decimal places, eg
tablea Average collection period,daysb Average balance,
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