Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kyoto joe, incorporated, sells earnings forecasts

Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities. Its credit terms are 1/30, net...

90.2K

Verified Solution

Question

Accounting

Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities. Its credit terms are 1/30, net 40. Based on experience, 65 percent of all customers will take the discount. Assume 365 days per year.
What is the average collection period?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
If the company sells 1,350 forecasts every month at a price of $2,450 each, what is its average daily balance sheet amount in accounts receivable?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Based on the following information determine the true balance in your checking account Balance in...

Finance
1.2K views

A downtown bookstore is trying to determine the optimal order quantity for a popular novel just...

Accounting
1.2K views

Govt and Nonprofit Accounting (27.) Listed below are selected transactions form the City of Watertown Hospital. All amounts...

Biology
1.2K views

Question 12 Match the column of the bacterial example to its importance in bioremediation Alcanivorax...

Basic Math
1.2K views

A particular lake is known to be one of the best places to catch a...

Statistics
1.2K views

For this question you will use A 316 The solution A is a constant function...

Algebra
1.2K views

Find an equation of variation where y varies jointly as x and the square of...

Accounting
1.2K views

\begin{tabular}{|l|c|c|c|} \hline \multicolumn{3}{|c|}{ WALL'S CHINA SHOP } \\ \hline & Income Statements \\...

Accounting
1.2K views

Assemblers uses normal job-order costing to assign costs to products. The company assembles and packages...

Accounting
1.2K views

Required: Use the information below to prepare Cardassian Company's balance sheet, in good form, at...

Accounting
1.2K views

Question 20 What's the minimum circuit protection (in a small-appliance circuits?

Accounting
1.2K views

Cartwright Lumber Company After a rapid growth in its business during recent years, the Cartwright...