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PLEASE INCLUDE AN EXCEL SPREADSHEET TO SHOW CALCULATIONS THANK YOU! Essence of Skunk Fragrances, Ltd., sells 6,400 units of its perfume collection each year at
PLEASE INCLUDE AN EXCEL SPREADSHEET TO SHOW CALCULATIONS THANK YOU!
Essence of Skunk Fragrances, Ltd., sells 6,400 units of its perfume collection each year at a price per unit of $650. All sales are on credit with terms of 2.5/10, net 90. The discount is taken by 75 percent of the customers. a. Calculate the average collection period. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the receivables turnover? (Use 365 days a year. Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) c. What is the amount of the company's average receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Average collection period Receivables turnover days times b. C. Average receviablesStep by Step Solution
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