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Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/25, net 60. Based on experience, 60 percent of all customers will

Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/25, net 60. Based on experience, 60 percent of all customers will take the discount.

What is the average collection period?

If the company sells 1,260 forecasts every month at a price of $2,360 each, what is its average daily balance sheet amount in accounts receivable?

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