Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1, 2022, Mr. Somchai deposits 10,000 Baht in 3 months fixed account at Bangkok Bank and interest rate is 1%. What will
On January 1, 2022, Mr. Somchai deposits 10,000 Baht in 3 months fixed account at Bangkok Bank and interest rate is 1%. What will the total amount of money at the end year 2022 be (assume a 365 day-year)? 10,100.38 Baht 10,085.00 Baht 10,100.00 Baht 10,085.26 Baht ABC Company Limited sells on terms of 3/10, n/30. Sales for the year are $1,200,000 and the collections department estimates that 30 percent of customers pay on the tenth day and take discounts; 40 percent pay on the thirtieth days; and the remaining 30 percent pay, on average, 40 days after the purchase (assume a 360 day-year).What is the days sales outstanding? 10 days 27 days 20 days 13 days One way to improve the cash conversion cycle is to: * speed up collections. O speed up disbursements. Oborrow funds. reduce inventory turnover.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started