Bumpting Inc. offers credit terms of 2/10, net 30 If a customer bought $100,000 worth...
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Bumpting Inc. offers credit terms of 2/10, net 30
If a customer bought $100,000 worth of goods and paid the firm within 6 days, how much cash would Bumpting receive?
*95000
*100000
*98000
If the customer paid off the account after 20 days, how much cash would the Bumptings get?
*95000
*100000
*98000
If 20% of Bumptings customers pay within 10 days and the rest take an average of 35 days to pay off their accounts what will be the firm's average collection period?
*30 days
*32 days
*28 days
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