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What is its average daily balance sheet amount in accounts

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Reference no: EM132832626

Question - 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?

b. If the company sells 1,220 forecasts every month at a price of $2,320 each, what is its average daily balance sheet amount in accounts receivable?

Reference no: EM132832626

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