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
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Transcribed Image Text: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?
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