Lux Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five percent of the customers pay on the tenth day and take discounts; the other 65% pay, on average, 45 days after their purchases. What is the average amount of receivables? Use 360 days
Lux Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five percent of the customers pay on the tenth day and take discounts; the other 65% pay, on average, 45 days after their purchases. What is the average amount of receivables? Use 360 days
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter21: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 6P
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Lux Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five percent of the customers pay on the tenth day and take discounts; the other 65% pay, on average, 45 days after their purchases. What is the average amount of receivables? Use 360 days
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