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[solution]: 2. Size of Accounts Receivable The Sand Surfer Corporation has annual sales of $38 million. The...


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2.        Size of Accounts Receivable   The Sand Surfer Corporation has annual sales of $38 million. The average collection period is 34 days. What is the average invest- ment in accounts receivable as shown on the balance sheet? Assume 365 days per year. 3.        ACP and Accounts Receivable   Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2y10, net 30. Based on experience, 65 percent of all customers will take the discount. a.   What is the average collection period for Kyoto Joe? b.   If Kyoto Joe sells 1,300 forecasts every month at a price of $1,750 each, what is its average balance sheet amount in accounts receivable?    

 


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