Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Yana and Ursula's Corporation ( traded as YUC on the NASDAQ ) have annual credit sales of $ 2 5 5 , 0 0 0

Yana and Ursula's Corporation (traded as YUC on the NASDAQ) have annual credit sales of $255,000. Their credit terms are 218, net 30. Additionally, 50% of their customers take the discount and pay on day 18, and 50% of their customers pay on day 30.(Assume a 360 day year)
What is their Average Collection Period (in days)?
24
18
15
not enough data provided
30
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Gapenski's Healthcare Finance An Introduction To Accounting And Financial Management

Authors: Kristin L. Reiter, Paula H. Song

7th Edition

1640551867, 9781640551862

More Books

Students also viewed these Finance questions

Question

Id probably just get more upset. Its bett er to just drop it.

Answered: 1 week ago