Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3/20, net 40. Based on experience, 70 percent of all customers will take the discount. a. What is the average collection period? (Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.) b. If the company sells 1,370 forecasts every month at a price of $2,470 each, what is its average daily balance sheet amount in accounts receivable? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Average collection period b. Average accounts receivable days

Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3/20, net 40. Based on experience, 70 percent of all customers will take the discount. a. What is the average collection period? (Do not round intermediate calculations and round your answer to 2 decimal places, 32.16.) b. If the company sells 1,370 forecasts every month at a price of $2,470 each, what is its average daily balance sheet amount in accounts receivable? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Average collection period b. Average accounts receivable 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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