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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are ( 1 / 30 ), net 50 . Based on experience, 75
Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are \\( 1 / 30 \\), net 50 . Based on experience, 75 percent of all customers will take the discount. a. What is the average collection period? (Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.) b. If the company sells 1,230 forecasts every month at a price of \\( \\$ 2,330 \\) each, what is its average daily balance sheet amount in accounts receivable? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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