P15-17 (book/static) Question Help Accounts receivable as collateral Springer Products wishes to borrow $90,000 from a local bank using its accounts receivable to secure the loan. The bank's policy is to accept as collateral any accounts that are normally paid within 30 days of the end of the credit period, as long as the average age of the account is not greater than the customer's average payment period. Springer's accounts receivable, their average ages, and the average payment period for each customer are shown in the following table: The company extends terms of net 30 days. a. Calculate the dollar amount of acceptable accounts receivable collateral held by Springer Products. b. The bank reduces collateral by 15% for returns and allowances. What is the level of acceptable collateral under this condition? a. Which accounts will be acceptable? (Select the best answer below.) A. A, B, C, D, E OB. A, E, F, G, H O C. C, E, F, G, H D. B, D, F, G, H P15-17 (book/static) Question Help Accounts receivable as collateral Springer Products wishes to borrow $90,000 from a local bank using its accounts receivable to secure the loan. The bank's policy is to accept as collateral any accounts that are normally paid within 30 days of the end of the credit period, as long as the average age of the account is not greater than the customer's average payment period. Springer's accounts receivable, their average ages, and the average payment period for each customer are shown in the following table: The company extends terms of net 30 days. a. Calculate the dollar amount of acceptable accounts receivable collateral held by Springer Products. b. The bank reduces collateral by 15% for returns and allowances. What is the level of acceptable collateral under this condition? a. Which accounts will be acceptable? (Select the best answer below.) A. A, B, C, D, E OB. A, E, F, G, H O C. C, E, F, G, H D. B, D, F, G, H