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What is average balance sheet amount in accounts receivable

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Reference no: EM132664765

The Accounting firm, called CMTP Accounting Services, sells these reports for credit terms 2/15 net 30.  Based on experience, 30% will NOT be quick enough to take the discount.

Problem 1: What is the average collection period for CMTP Accounting

Problem 2: If CMTP sells 1,500 reports every month at a price of $2,000 each, what is the average balance sheet amount in accounts receivable? Assume 365 days per year.

Reference no: EM132664765

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