Cat Supplies offers terms of 1/10, net 35. The discount is taken by 77 percent of customers. What is the company’s average collection period?
Hoyes Lumber generally receives three checks per month. A check for $11,280 clears in 4 days, a check for $6,525 clears in 3 days, and a check for $7,750 clears in 3 days. Assuming 30 days in each month, what is the average daily float?
The Bates Corporation has annual credit sales of $28 million. The average collection period is 30 days.
What is the average investment in accounts receivable as shown on the balance sheet? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
On an average day, a company writes 47 checks worth a total of $7,900 that clear in 2.75 days. The company also collects 59 checks worth a total of $9,890 that clear in 2.25 days. What is the company’s average collection float?
At the beginning of the day, a company had a ledger balance and available balance of $3,860. During the day, the company wrote three checks for $275, $640, and $900. The company also deposited checks for $395 and $855. What is the company’s collection float?
Comfy Furniture sells 4,800 couches per year at an average price of $1,280. The carrying cost per couch is $11.00 and the fixed order cost is $240. What is the economic order quantity for the couches?
Last Updated on February 11, 2019 by EssayPro