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Question - Aunt Donkey has credit sales of $400,000 yearly with customers paying on average in 55 days. Aunt Donkey does not currently offer a discount for early payment.
Required -
1. What is the average receivables balance?
2. Assume Aunt Donkey offers new trade terms of 2/10, Net 30. All customers take the discount and pay in 10 days, and sales increase by 20 percent as a result of this discount incentive. If Aunt Donkey earns 22 percent on sales (before discounts) and can reduce their 4% bank loan due to the early payments, should they offer these new discount terms?
The CFO requested that $20,000 of cash be used to pay off the balance of the accounts payable account on December 31, 2022. Calculate the new current ratio
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Malcolm Company uses a predetermined overhead rate based on direct labor hours. Underapplied overhead of $3,500. What formula is used to solve this problem?
Compute the variable cost per unit and the contribution margin ratio for 2015
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