2. Mala-Inse Company sells its products on account payable in 30 days from the date of sale. Customers are given three percent discount if they pay within ten days. Total sales for the year amounted to P900,000. Records of the company shows that forty percent of the customers pay on the tenth day and take the discounts; while 60 percent pay on average of 45 days after the date of purchase. Determine the average amount of receivables?
2. Mala-Inse Company sells its products on account payable in 30 days from the date of sale. Customers are given three percent discount if they pay within ten days. Total sales for the year amounted to P900,000. Records of the company shows that forty percent of the customers pay on the tenth day and take the discounts; while 60 percent pay on average of 45 days after the date of purchase. Determine the average amount of receivables?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you